Reduced expectations for 2019 global oil demand… EIA

July 11, 2019 by Jim Colburn Leave a Comment

The EIA’s excellent Today in Energy focuses on declining estimates of global oil demand for 2019, here…

“In its July 2019 edition of the Short-Term Energy Outlook (STEO), EIA forecasts that global liquid fuels consumption, which averaged 99.9 million barrels/day (b/d) in 2018, will grow by 1.1 million b/d in 2019 and by 1.4 million b/d in 2020. EIA has revised down its expectation for global liquids demand growth for six consecutive months. This revision reflects slower expected economic growth in many of the world’s largest oil-consuming countries, lower than expected oil consumption so far this year, and higher crude oil prices.”

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