Short-term energy outlook
Domestic petroleum consumption in 1984 is expected to average 15.9 million barrels per day, a 4.7-percent increase over expected 1983 demand of 15.2 million barrels per day. Petroleum demand in 1984 is expected to show an increase, on an annual basis, for the first time since 1978. Projected demand in 1984 is down slightly, despite a somewhat higher forecast for industrial production. This downward revision primarily reflects weaker petroleum demand in the industrial sector than forecasted previously, but it also reflects a slightly lower real disposal personal income and a slightly higher world oil price. Data for the second and third quarters of 1983 show a stronger and faster economic recovery than previously forecast; as a result, manufacturing activity is now projected to rise by 8 percent between 1982 and 1983 and by an additional 10 percent between 1983 and 1984. Although the assumed world oil price of $29.40 per barrel in 1984 is slightly higher than forecast previously, oil prices are still expected to remain stable at the level (in nominal terms) throughout the forecast period.
- Research Organization:
- USDOE Energy Information Administration, Washington, DC. Office of Energy Markets and End Use
- OSTI ID:
- 5563290
- Report Number(s):
- DOE/EIA-0202(83/4Q); ON: DE84004084
- Country of Publication:
- United States
- Language:
- English
Similar Records
Short-term energy outlook. Quarterly projections, August 1984
Short-term energy outlook. Volume 1. Quarterly projections
Related Subjects
292000* -- Energy Planning & Policy-- Supply
Demand & Forecasting
CARBONACEOUS MATERIALS
COAL
DEMAND
ELECTRICITY
ENERGY CONSUMPTION
ENERGY DEMAND
ENERGY SOURCES
FLUIDS
FORECASTING
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GASOLINE
INVENTORIES
LIQUID FUELS
MATERIALS
NATURAL GAS
PETROLEUM
PETROLEUM PRODUCTS
PRICES
RESERVES
RESIDENTIAL SECTOR
RESOURCES
STRATEGIC PETROLEUM RESERVE
WEATHER