In response to the U.S. Vitality Info Administration’s (EIA) newest brief time period power outlook (STEO), which was launched on April 10, the EIA expects complete U.S. petroleum merchandise consumption to extend in 2025 and 2026.
Whole U.S. petroleum merchandise demand is projected to return in at 20.38 million barrels per day this 12 months and 20.49 million barrels per day subsequent 12 months, the STEO confirmed. In 2024, this determine averaged 20.31 million barrels per day, the STEO highlighted.
Motor gasoline demand is forecast to contribute 8.90 million barrels per day to the general 2025 determine, distillate gas oil is anticipated to contribute 3.81 million barrels per day, hydrocarbon fuel liquids are projected to contribute 3.71 million barrels per day, jet gas is anticipated to contribute 1.72 million barrels per day, “different oils” are anticipated to contribute 1.68 million barrels per day, and residual gas oil and different hydrocarbons and oxygenates are each anticipated to contribute 0.28 million barrels per day, the EIA’s April STEO outlined.
- Advertisement -
Different oils embrace aviation gasoline mixing elements, completed aviation gasoline, kerosene, petrochemical feedstocks, particular naphthas, lubricants, waxes, petroleum coke, asphalt and street oil, nonetheless fuel, and miscellaneous merchandise, the EIA famous in its STEO.
Motor gasoline is projected to contribute 8.89 million barrels per day to the general 2026 U.S. petroleum merchandise demand determine, distillate gas oil is anticipated to contribute 3.84 million barrels per day, hydrocarbon fuel liquids are projected to contribute 3.78 million barrels per day, jet gas is anticipated to contribute 1.73 million barrels per day, “different oils” are anticipated to contribute 1.65 million barrels per day, different hydrocarbons and oxygenates are anticipated to contribute 0.33 million barrels per day, and residual gas oil is projected to contribute 0.28 million barrels per day, the STEO confirmed.
World Consumption
World petroleum and different liquid fuels consumption is projected to common 103.64 million barrels per day in 2025 and 104.68 million barrels per day in 2026 within the EIA’s newest STEO. In 2024, this demand averaged 102.74 million barrels per day, the EIA’s April STEO confirmed.
The OECD complete demand is forecast to return in at 45.63 million barrels per day this 12 months and 45.62 million barrels per day subsequent 12 months within the EIA’s newest STEO. The EIA’s U.S. complete demand determine of 20.38 million barrels per day for 2025 makes up 44.66 p.c of its complete OECD demand determine for this 12 months. Its U.S. complete demand determine of 20.49 million barrels per day in 2026 makes up 44.91 p.c of the EIA’s complete OECD demand determine for subsequent 12 months.
Non-OECD petroleum and different liquid fuels consumption is projected to common 58.01 million barrels per day in 2025 and 59.06 million barrels per day in 2026, the EIA’s April STEO outlined.
The EIA states in its April STEO that consumption of petroleum by the OECD international locations is identical as petroleum product equipped, outlined within the glossary of the EIA Petroleum Provide Month-to-month. It provides that consumption of petroleum by the non-OECD international locations is obvious consumption, which incorporates inner consumption, refinery gas and loss, and bunkering.
World, USA Manufacturing
In its newest STEO, the EIA tasks that world petroleum and different liquid fuels manufacturing will common 104.10 million barrels per day in 2025 and 105.35 million barrels per day in 2026.
The EIA forecasts on this STEO that 77.08 million barrels per day of the 2025 complete will comprise crude oil and 27.02 million barrels per day will probably be made up of different liquids. The EIA tasks in its April STEO that 77.82 million barrels per day of the 2026 complete will comprise crude oil and 27.53 million barrels per day will probably be made up of different liquids.
U.S. petroleum and different liquid fuels manufacturing is anticipated to return in at 23.16 million barrels per day this 12 months and 23.41 million barrels per day subsequent 12 months, the STEO confirmed. U.S. crude oil manufacturing is projected to common 13.51 million barrels per day in 2025 and 13.56 million barrels per day in 2026, the STEO highlighted.
In its April STEO, the EIA identified that petroleum and different liquid fuels manufacturing figures embrace crude oil, lease condensate, pure fuel plant liquids, different liquids, refinery processing achieve, and different unaccounted-for liquids. The STEO highlighted that U.S. crude oil manufacturing forecasts embrace lease condensate.
To contact the writer, e-mail andreas.exarheas@rigzone.com
