Global oil and liquid hydrocarbons (LHW) consumption will total 99.6 million bpd in 2022, up 2.1 million bpd from 2021, the US Department of Energy’s Energy Information Administration (EIA) said in its monthly forecast.

Thus EIA adjusted its forecast downward. In March, the ministry forecasted oil consumption in the current year at 99.8 million b/s.

The revision of the forecast is due to lower expectations of oil consumption growth in China and the United States.

According to EIA estimates, in 2023 oil demand will increase by 1.9 mln bpd – up to 101.5 mln bpd.