Baku, Azerbaijan, July 12
By Elena Kosolapova – Trend:
Global consumption of petroleum and other liquids will increase to 98.39 million barrels per day in 2017 and to 100 million barrels per day in 2018, said the US Energy Information Administration’s (EIA) July 2017 Short-Term Energy Outlook (STEO).
In its June STEO the EIA forecast global consumption of petroleum and other liquids at 98.46 million barrels per day in 2017 and at 100.08 million barrels per day in 2018.
Global consumption of oil and other liquids hit 96.92 million barrels per day in 2016, according to the EIA.
Liquid fuels consumption in non-OECD countries will grow from 50.07 million barrels per day in 2016 to 51.23 million barrels per day in 2017 and 52.47 million barrels per day in 2018, according to EIA. China and India are expected to be the largest contributors to non-OECD liquid fuels consumption growth.
China's consumption growth is forecast to average more than 0.3 million barrels per day in both 2017 and 2018, and it is driven by increased use of gasoline, jet fuel, and hydrocarbon gas liquids. In India, liquid fuels consumption is forecast to grow by 0.2 million barrels per day in 2017 and by almost 0.3 million barrels per day in 2018.
OECD liquid fuels consumption will increase from 46.85 million barrels per day in 2016 to 47.15 million barrels per day in 2017 and 47.53 million barrels per day in 2018, the report said.