Global demand for oil is expected to rise to 112.2 million barrels per day in 2035, up 27% from 88.2 million barrels per day in 2011, according to the Energy Information Administration. The new projections, which do not take into account any proposed or potential U.S. regulations, is higher by 1.4% compared with last year's forecast. Daily production of unconventional liquid-fuel sources, including biofuels and oil sands, is expected to reach 13.1 million barrels in 2035, up from 3.9 million barrels in 2008, the EIA said.

Full Story:

Related Summaries