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US expects world oil consumption growth in short term

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Date: 13 January 2016 20:47

Baku, Azerbaijan, Jan. 13

By Elena Kosolapova – Trend:

The consumption of oil and other liquid hydrocarbons will increase up to 95.19 million barrels per day in the world in 2016, the January short-term forecast of the US Energy Information Administration (EIA) said.

The global consumption of oil and other liquid hydrocarbons amounted to 93.77 million bpd in 2015, while it was 92.45 million bpd in 2014, the EIA said.

The consumption of oil and other liquid hydrocarbons is projected at 94.14 million bpd in the first quarter of 2016, 94.73 million bpd in the second quarter, 96.01 million bpd in the third quarter, 95.87 million bpd in the fourth quarter.

EIA predicts an increase in global consumption up to 96.61 million bpd day in 2017. The quarterly production is expected to reach 95.45 million bpd, 96.16 million bpd, 97.49 million bpd and 97.31 million bpd, respectively in 2017.

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