Transcription of Short-Term Energy Outlook
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Short-Term Energy Outlook
Energy Information Administration | Short-Term Energy Outlook January 2022 1 Note: EIA completed modeling and analysis for this report on Thursday January 6, 2022 January 2022 Short-Term Energy Outlook Forecast highlights This edition of the Short-Term Energy Outlook (STEO) is the first to include forecasts for 2023. The STEO continues to reflect heightened levels of uncertainty as a result of the ongoing COVID-19 pandemic. Notably, the Omicron variant of COVID-19 raises questions about global Energy consumption. real GDP declined by in 2020 from 2019 levels. Based on forecasts that use the IHS Markit macroeconomic model, we estimate GDP increased in 2021 and that it will rise by in 2022 and by in 2023.
estimates, global consumption of petroleum an d other liquid fuels grew by 5.0 million b/d in 2021. This growth followed a decline of 8.4 million b/d in 2020. We forecast global oil consumption will grow by 3. 6 million b/d in 2022 and by 1.8 million b/d in 2023, reaching 100.5 million b/d in 2022 and 102.3 million b/d in 2023.
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