World oil demand to rise by 0.84 million barrels per day in 2012: EIA

World oil demand will rise by 0.84 million barrels per day (bpd) in 2012 to 89.09 million bpd, the U.S. Energy Information Administration (EIA) said Tuesday.

Global oil demand will rise by a further 1 million bpd to 90.1 million bpd in 2013, an increase of 130,000 bpd from the agency’s last month’s estimate, the EIA said in its monthly short-term energy outlook report.

Meanwhile, the EIA expects oil demand in the United States, the world’s biggest oil consumer, to drop 1.5 percent this year to a 15-year low of 18.67 million barrels per day.

Demand for gasoline, the most widely used petroleum product in the United States, is expected to decrease 0.2 percent from a year ago to an 11-year low of 8.73 million barrels a day.

Increased U.S. domestic crude oil output will help reduce U.S. dependence on oil imports, according to the EIA.

The country’s combined net imports of crude oil and refined products are expected to drop to a 39 percent share of total U.S. demand in 2013, down from 49 percent in 2010, the agency said.

Via – XinHuaNet


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