US demand for liquid fuels to average 18.76 million b/d in 2012: EIA
Washington (Platts)--12Jun2012/142 pm EDT/1742 GMT
US crude oil production is expected to climb to 6.32 million b/d this
year, up 11% from 2011, the Energy Information Administration said
Tuesday.
In its latest Short-Term Energy Outlook, EIA again raised earlier output
projections -- raising the 2012 average 2% from last month's forecast
and increasing the 2013 outlook by 6% to 6.73 million b/d.
In May, EIA raised its 2012 projection by 9% from the April report,
reflecting a continued surge in domestic output. The US pumped an
average 5.67 million b/d of oil last year.
If the 2012 projection holds, it would mark the highest level of US
oil production since 1998, EIA said.
Onshore rigs, including those pumping record volumes out of
unconventional oil plays, would drive output in the Lower-48 states to
an average 4.44 million b/d in 2012 and 4.83 million b/d in 2013, EIA
said.
Liquid fuel consumption is expected to fall this year to an average
18.76 million b/d, the same level as EIA's May outlook. EIA sees demand
for oil and other petroleum products increasing to 2013 to an average of
18.88 million b/d, also unchanged from May.
US demand for liquid fuels was 18.84 million b/d in 2011 and 19.18
million b/d in 2010, the agency said.
About 42% of this year's consumption would be met by net imports, EIA
predicts, with that figure falling to 40% in 2013. Liquid fuel net
imports accounted for about 45% of 2011 consumption, the agency said.
--Meghan Gordon,
meghan_gordon@platts.com
--Edited by Richard Rubin,
richard_rubin@platts.com
Creative
Commons License
To subscribe or visit go to:
http://www.platts.com |