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2014-02-11 19:00:00

GLOBAL PETROLEUM CONSUMPTION

GLOBAL PETROLEUM CONSUMPTION

EIA estimates that global consumption grew by 1.2 million bbl/d in 2013, exceeding 91 million bbl/d by the second half of the year. EIA expects global consumption to grow at a similar pace of nearly 1.3 million bbl/d in 2014 and 1.4 million bbl/d in 2015, exceeding 93 million bbl/d by the second half of 2015.

Non-OECD countries account for almost all consumption growth over the forecast period. China is the leading contributor to projected global consumption growth, with consumption increasing by 400,000 bbl/d in 2014 and 430,000 bbl/d in 2015. However, China's economic and oil consumption growth have moderated compared with levels before 2012, when GDP growth exceeded 9% and annual oil consumption growth averaged 790,000 bbl/d from 2009 through 2011.

On the other hand,…

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Tags: GLOBAL, PETROLEUM, CONSUMPTION
Chronicle:
GLOBAL PETROLEUM CONSUMPTION
2019, May, 22, 10:35:00
CANADA'S GDP GROWTH 1.5%
Real GDP growth is projected to decline to 1.5 percent in 2019, partly reflecting a disappointing first quarter and more subdued global growth.
GLOBAL PETROLEUM CONSUMPTION
2019, May, 22, 10:30:00
INDONESIA'S GDP GROWTH 5.2%
Real GDP growth reached 5.2 percent in 2018, and is expected to remain at 5.2 percent in 2019, driven by robust domestic demand growth and supported by recovering bank credit.
GLOBAL PETROLEUM CONSUMPTION
2019, May, 22, 10:25:00
RUSSIA,RWANDA NUCLEAR
On the May 16, 2019, in Moscow, the roadmap for establishing Russian-Rwanda cooperation in the peaceful uses of atomic energy was signed.
GLOBAL PETROLEUM CONSUMPTION
2019, May, 21, 15:55:00
OIL PRICE: ABOVE $72 ANEW
Brent crude futures, the international benchmark for oil prices, were at $72.31 per barrel at 1030 GMT, up 34 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.7 percent, at $63.52 per barrel.
GLOBAL PETROLEUM CONSUMPTION
2019, May, 21, 15:45:00
BALANCED OIL MARKET
Following its 14th Meeting, which took place on 19 May 2019, in Jeddah, the Kingdom of Saudi Arabia, the Joint Ministerial Monitoring Committee (JMMC) has reaffirmed its commitment to achieving a balanced market and working towards oil market stability on a sustainable basis with solid fundamentals.
GLOBAL PETROLEUM CONSUMPTION
2019, May, 21, 15:40:00
OPEC+ WILL STAY
"We want to bring inventories down to a more normal levels," Falih said. "We need to stay the course and do that in the weeks and months to come."
GLOBAL PETROLEUM CONSUMPTION
2019, May, 21, 15:35:00
OPEC+ RUSSIA COOPERATION
Russia sees a range of options that would allow OPEC+ to continue output cooperation until year-end, from easing the limits to ending the extreme throttling-back that has seen some countries exceed original cutback targets.
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