EIA forecasts increasing global petroleum consumption through 2019

Global consumption of petroleum and other liquid fuels grew by 1.4 million b/d in 2017, reaching an average of 98.4 MMbpd for the year. EIA expects consumption growth will average 1.7 MMbpd in 2018 and 1.6 MMbpd in 2019, driven by the countries outside of the Organization for Economic Cooperation and Development (OECD). Non-OECD consumption growth is expected to account for 1.2 MMbpd and 1.3 MMbpd of the growth in 2018 and 2019, respectively.

Source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2018
Principal contributor: Matt French

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