EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022
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JULY 8, 2021
However, for 2022, EIA expects that continuing growth in production from OPEC+ and accelerating growth in US tight oil production, along with other supply growth, will outpace growth in global oil consumption and contribute to declining oil prices. Based on these factors, EIA expects Brent to average $67/b in 2022.
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