IEA sees OECD oil demand 800,000 bpd lower in 2015

Nov 13, 2008 01:00 AM

Oil demand in the developed world has already peaked and is set to fall by 800,000 bpd from last year's 46.5 mm bpd to 45.7 mm bpd in 2015, the International Energy Agency (IEA) said.
Over the following 15 years to 2030, OECD demand is projected to drop by a further 1.8 mm bpd to 43.9 mm bpd, IEA said in its annual World Energy Outlook.

The fall in demand over the 2007-2030 period averages 0.2 % annually. US demand is forecast to fall from 20.2 mm bpd in 2007 to 19.3 mm bpd in 2015 and 19 mm bpd in 2030.
Production is seen easing back from 6.9 mm bpd in 2007 to 6.8 mm bpd in 2015 and then to 6.5 mm bpd in 2030. US imports are also forecast to drop from 13.2 mm bpd in 2007 to 12.3 mm bpd in 2015 and 11.9 mm bpd in 2030.

But imports will continue to account for a high proportion of US oil demand, their share rising from 60.89 % in 2007 to 63.73 % in 2015 before falling back to 62.63 % in 2030.
OECD Europe demand is seen falling from 14 mm bpd in 2007 to 13.9 mm bpd in 2015 and 13.1 mm bpd in 2030.

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