EIA cuts forecast for 2022 world oil demand

EIA estimates for oil demand

The EIA is out with his forecast for demand and supply.

• Cut the forecast for 2022 world oil demand growth by 130,000 barrels per day. Now sees 3.35 million barrels per day year on year increase
  
• raises forecast for 2021 world oil demand growth by 60,000 barrels per day. Now sees 5.11 million barrels per day year on year increase
  
• lease 2022 world oil demand growth unchanged at 3.48 million barrels per day
  
• leaves 2021 world oil demand growth unchanged at 5.05 million barrels per day
  
• US crude output to rise 770,000 barrels per day to 11.9 million barrels per day in 2022 (versus increase of 710,000 barrels per day expected last month)
  
• US liquid fuels consumption to rise 1.49 million barrels per day in 2021 (versus 1.48 million barrels per day increase forecast last month)
  
• US liquid fuels consumption to rise 690,000 barrels per day in 2022 to 20.37 million barrels per day (versus 760,000 increase projected last month)
  
• projects gasoline prices to rise to $3.00 per gallon in 2021 and $2.91 per gallon in 2022
  
• expects gasoline prices higher than forecast last month
  

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November 10, 2021 at 05:08AM

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