Industry and Energy

Home page

Industry and Energy

EIA: Global petroleum demand to decrease - FORECAST

13 May 2020 10:57 (UTC +04:00)

EIA expects global petroleum and liquid fuels demand will average 92.6 million b/d in 2020, a decrease of 8.1 million b/d from last year, before increasing by 7.0 million b/d in 2021, APA-Economics reports citing IEA monthly report.

EIA estimates global petroleum and liquid fuels consumption averaged 94.1 million barrels per day (b/d) in the first quarter of 2020, a decline of 5.8 million b/d from the same period in 2019.

Lower global oil demand growth for 2020 in the May STEO reflects growing evidence of disruptions to global economic activity along with reduced expected travel globally as a result of restrictions related to COVID-19.