The US Energy Information Administration Tuesday raised its 2013 and 2014 global oil demand forecasts, citing strength in Asia.
In its June Short-Term Energy Outlook, the EIA raised its 2013 oil demand forecast by 99,000 b/d, to 90.03 million b/d, and its 2014 demand forecast by 82,000 b/d to 91.22 million b/d.
"Non-OECD Asia, particularly China, is the leading contributor to the projected global consumption growth," the EIA said.North Dakota production: 800,000 bopd/24 hours = 33,000 bbls/hour
A global increase in demand of 99,000 bbls/day = 3 hours of North Dakota production. "We" can handle it.
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