EIA: China, US lead future long-term oil demand growth

06/07/2004
Over the next 2 decades China and the US will fuel much of the new global oil demand, a long-term analysis by the US Energy Information Administration predicts.EIA projected world oil use will increase to 121 million b/d in 2025 from 77 million b/d in 2001, according to the agency's base reference case."Much of the increase in oil demand is expected to occur in the United States and in developing Asia," EIA said in its International Energy Outlook 2004, released Apr. 14.The US, China, and the rest of developing Asia account for nearly 60% of the projected growth in world oil use, EIA found. Although producers from the Organization of Petroleum Exporting Countries are expected to captu...
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