February 2018, Vol. 245, No. 2
In The News
World News
EIA Raises Global Oil Demand Forecast Global consumption of petroleum and other liquid fuels is expected to grow at a faster rate in 2018 than previously expected, according to the U.S. Energy Information Administration (EIA). Based on EIA’s mid-January forecast revision, petroleum and other liquid fuels consumption growth will average 1.7 MMbpd in 2018 and almost 1.7 MMbpd in 2019 – approximately 100,000 bpd higher than predicted in EIA’s prior forecast. Non-OECD countries, led by India and China, will account for 1.2 MMbpd and 1.3 MMbpd of the global growth in 2018 and 2019, respectively, EIA predicted. Global consumption of petroleum and other liquid fuels averaged 98.4 MMbpd in 2
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