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EIA: U.S. Daily Oil Demand is Expected to Grow by 0.7% in 2010
International Energy Network News: The U.S. Energy Information Administration estimated on the 10th that the average daily oil demand in the United States in 2010 will be 18.91 million barrels, 0.7% higher than in 2009. It is also expected that demand for petroleum products will rise in 2010, thus breaking four consecutive years of decline.Comprehensive media reported on August 10 that the U.S. Energy Information Administration (EIA)10 stated that U.S. oil demand is expected to grow moderately by 0.7% in 2010 based on 2009, with consumption of all major petroleum products rising. This will break the four-year downward trend.
In its monthly short-term outlook report, the EIA said it expected U.S. oil demand to average 18.91 million barrels per day in 2010, 140,000 barrels higher than 2009 levels. Average daily oil demand in 2009 was revised upward by 0.4%, or 80,000 barrels. Based on this calculation, the average daily oil demand in the United States in 2010 was still 1.9 million barrels, or 9.1%, lower than the peak in 2005, when the average daily demand was 20.8 million barrels.
The report shows that average daily oil demand in the United States is expected to increase by 0.8%, or 160,000 barrels, to 19.07 million barrels in 2011.
EIA also predicts that U.S. average daily oil demand in the third quarter of 2010 will be 18.94 million barrels, which is 1.2%, or 220,000 barrels higher than the revised demand in 2009. In its July report, the EIA expected third-quarter average daily oil demand to increase by 250,000 barrels per day, or 1.3%, from 2009 levels. However, in the report released on the 10th, the EIA revised the average daily oil demand in 2009 up by 0.5%, or 100,000 barrels.
The EIA report also predicts that the average daily gasoline demand in the United States will increase by only 20,000 barrels in 2010, 70,000 barrels in 2011, and the actual average daily demand in 2009 will be 9 million barrels; it is also expected that distillate (diesel and fuel oil) daily growth in 2010 Average daily demand increased by 50,000 barrels, with an increase of 40,000 barrels in 2011. The actual average daily demand in 2009 was 3.63 million barrels, both far lower than the record-breaking 4.2 million barrels in 2007.
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