Mumbai, March 12 -- The Energy Information Administration forecast a rise in global liquid fuels production, driven by gradual OPEC+ output increases and strong non-OPEC growth in its Short-Term Energy Outlook (STEO). Global production is set to rise by 1.4 million b/d in 2025 and 1.6 million b/d in 2026, with U.S., Canada, Brazil, and Guyana leading gains. OPEC+ is expected to limit production increases to prevent inventory surpluses. Meanwhile, oil consumption growth remains below pre-pandemic trends, with India and China driving demand. The EIA STEO sees India's fuel demand growing 0.3 million b/d annually through 2026, fueled by transport needs, while China's rise is linked to economic stimulus efforts.
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