U.S. Energy Information Administration cuts its global oil demand forecasts

Market news

10 March 2016

U.S. Energy Information Administration cuts its global oil demand forecasts

The U.S. Energy Information Administration (EIA) downgraded its global oil demand forecasts. Global oil demand is expected to be 95.02 million barrels per day (bpd) in 2016, down from its January estimate of 95.19 million bpd, and 96.48 million bpd in 2017, down from its January forecasts of 96.61 million bpd.

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