Signa Engineering Corp.

We estimate that 99.4 million barrels per day (b/d) of and liquid fuels were consumed globally in August 2022, up by 1.6 million b/d from August 2021. We forecast that global consumption will rise by an average of 2.1 million b/d for all of 2022 and by an average of 2.0 million b/d in 2023.

As a result of high global prices, we increased our forecast for oil consumption in 4Q22 and 1Q23 as providers, particularly in Europe, may switch to oil-based generating fuels. https://www.eia.gov/outlooks/steo/?utm_source=Facebook&utm_medium=social&utm_id=SocialPlan