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U.S increased forecast for global liquid fuels for next year

08 February 2023 10:40 (UTC +04:00)

"We expect global liquid fuels consumption to increase by 1.1 million barrels per day (b/d) in 2023 and by 1.8 million b/d in 2024, driven primarily by growth in China and other non-OECD countries. The outcomes of our demand forecast remain uncertain as China shifts away from its zero-COVID-19 policy and global economic conditions evolve," forecasts the U.S. Energy Information Administration (EIA), APA reports.

.EIA also expects oil production in Russia to average 9.9 million b/d in 2023, down 1.1 million b/d from 2022.

Electricity generation in EIA's forecast falls by 2% in 2023 and then rises by 2% 2024. The generation mix continues to shift away from coal.