EIA: word's crude oil consumption to hit 1.3 million barrels per day this year

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Source: Commodityonline
The EIA reported that global consumption of crude oil is expected to jump to 1.3 million barrels per day in 2012 and to 1.5 million barrels per day in 2013. The major drivers for the increase in oil consumption will be the US, China, Brazil and Middle East. In case of absence of oil disruption, the energy market will stay moderately flat this year and will resume its upward trend next year. Crude oil price is likely to average at $100 per barrel in 2012, being $5 higher than in 2011 and attain $106 per barrel in 2013.
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