World oil consumption expected to be below 2008 levels through 2010. - EIA

[JohnWxy]

http://www.eia.doe.gov/steo

Consumption. World oil consumption is expected to drop by 1.35 million barrels per day (bbl/d) in 2009 compared with year-earlier levels, due to the global economic recession. EIA assumes that the global gross domestic product (GDP), weighted by oil consumption, will fall by 0.8 percent this year. Consumption is expected to fall by 1.6 million bbl/d in the OECD countries and rise by 270,000 bbl/d in non-OECD nations. The bulk of the decline is expected to be concentrated in the first half of the year (World Liquid Fuels Consumption). World oil consumption is expected to grow by 1.1 million bbl/d in 2010, driven by a recovery of global GDP growth to 2.6 percent.


2009: - 1.6 mil bbl/d (OECD countries)
2010: + 1.1 mil bbl/d

so in 2010 we will still be .5 mil bbl/d below the 2008 level.