BAKU, Azerbaijan, April 9. Global liquid fuels demand is expected to average 102.9 mb/d in 2024 and 104.3 mb/d in 2025, the US Energy Information Administration Agency (EIA) forecasts, Trend reports.
According to the EIA, these figures represent an increase of between 0.4 mb/d and 0.5 mb/d in both years compared to last month's outlook.
Year-over-year forecast consumption growth in 2025 remains largely unchanged from the March expectations, the EIA noted
Meanwhile, the administration added that global liquid fuels consumption reached an average of 102 mb/d in 2023, marking a 2 mb/d increase from 2022 and approximately 1 mb/d higher than last month's report.
At the same time, the EIA anticipates a global increase in liquid fuels production of over 0.8 mb/d in 2024, showing a slowdown from the 1.8 mb/d growth seen in 2023. In its forecast, the agency foresees global liquid fuels output to increase by 2 mb/d in 2025.
