Demand for petrol and coal is growing in the US again
US petrol and coal demand are growing amid the country's economic recovery following the COVID-19 pandemic. This follows from the report of the country's Ministry of Energy (EIA), Angi reports.
According to the EIA, Americans used an average of 8.6 million barrels of petrol per day (bpd) in the first half of the year. That year, the same figure was 8.3 million bpd. At the same time, as noted in the report, in the second quarter of this year, the growth in demand for fuel in the United States was stronger than the EIA predicted. Based on this, EIA has adjusted its forecast for the entire 2021 to 8.8 million bpd, which will be 10% higher than in 2020. However, compared to 2019, the level of gasoline consumption in the country remains noticeably lower, back then it amounted to 9.3 million bpd.
Due to the recovery of the economy and production, in particular, the volumes of electricity sold in the country are growing. According to EIA forecasts, in 2021 they will grow by 2.7% after falling by 3.9% in 2020. At the same time, the EIA notes that this year the consumption of coal in the energy sector has significantly increased, which is primarily due to the rise in gas prices. As a result, its production by the end of 2021 should grow by 13% compared to last year, up to 607 million short tons. And its consumption to generate electricity will grow immediately by 17%. However, according to the analysts of the ministry, next year this figure will decrease by 9% and will be equal to the planned indicators of long-term forecasts.
To recap, the European Union has cut coal consumption by 1/3 in two years.
Tags: gas, coal, USA, electricity market, investments, gasoline, ecology, economy, electricity consumption, coal market
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