CDN NEWS | 
US NEWS 
LONDON, Oct 2 (Reuters) – Global fuel oil demand has exceeded expectations in recent years, according to the International Energy Agency and other forecasters.
The IEA’s latest medium-term outlook projects that residual fuel oil demand in 2025 will be 4.8% higher than in 2019, compared with a 1.9% increase in gasoline consumption. In contrast, demand for jet fuel and gasoil/diesel is expected to remain below 2019 levels.
In 2020, the IEA expected fuel oil demand to post the slowest growth of those fuels over 2019-2025.
IEA’s Oil 2025 Report Global demand by product in millions of barrels per day
|
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
% change 2025-2019
|
|
|
Gasoline
|
26.9
|
23.9
|
26
|
26.6
|
27.1
|
27.2
|
27.4
|
1.9
|
|
Jet/kerosene
|
7.9
|
4.6
|
5.2
|
6.1
|
7.2
|
7.6
|
7.7
|
-2.5
|
|
Gasoil/diesel
|
28.7
|
26.7
|
28.2
|
28.7
|
28.4
|
28.3
|
28.3
|
-1.4
|
|
Residual fuel oil
|
6.2
|
5.8
|
6.3
|
6.5
|
6.5
|
6.5
|
6.5
|
4.8
|
IEA’s Oil 2020 Report Global demand by product in millions of barrels per day
|
2019
|
2020
|
2021
|
2022
|
2023
|
2024
|
2025
|
% change 2025-2019
|
||
|
Gasoline
|
26.4
|
26.2
|
26.6
|
26.7
|
26.8
|
26.9
|
26.9
|
1.9
|
|
|
Jet/kerosene
|
8
|
7.9
|
8.1
|
8.3
|
8.4
|
8.4
|
8.5
|
6.3
|
|
|
Gasoil/diesel
|
28.9
|
29.2
|
29.5
|
29.6
|
29.8
|
29.9
|
30
|
3.8
|
|
|
Residual fuel oil
|
6.3
|
5.7
|
6.2
|
6.4
|
6.4
|
6.4
|
6.4
|
1.6
|
Reporting by Enes Tunagur and Alex Lawler, Editing by Louise Heavens
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