asr: this article has ACTUAL consumption that happened and forecast for next years by EIA .
Oil to average $93 in 2011 as demand rises: EIA
date: JAN 11, 2011
The Energy Information Administration Tuesday said world oil consumption
rose 2.2 million barrels per day in 2010 to 86.6 million,
offsetting losses in the previous two years and surpassing 2007's 86..3 million barrels a day.
The agency expects average global consumption growth through 2012 to "return to rates seen before" the 2008 global downturn. That means a rise in demand
a) in the order of 1.4 million barrels a day for 2011 and
b) 1.6 million barrels a day for 2012,
the EIA said in its monthly outlook report released Tuesday afternoon.
Production from the Organization of Petroleum Exporting Countries is expected to continue to rise to make up for the demand increase and for "limited growth" in non-OPEC production, the EIA said.
The agency expects crude oil trading in New York
a) to average $92 a barrel in the first quarter of the year,
b) and $93 in 2011 ( avarage)
asr: see below month ago on DEC 7,2010 EIA said $86 per barrel in 2011, so in 1 month it incrased 2011 AVArage price forecast by $7 ( 93 - 86 )
c) For 2012, the agency sees oil averaging $98 a barrel.
Crude-oil futures for February delivery were recently up $1.75, or 2%, to $91 a barrel on the New York Mercantile Exchange, having extended gains from the start of the trading day.
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