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Biofuels expected to ride oil demand higher


A new global forecast of oil demand indicates growth for biofuels in the next decade.

Troy Bredenkamp with the Renewable Fuels Association tells Brownfield the report from the International Energy Agency suggests ethanol and biodiesel will provide 10 percent of new liquid fuel supplies by 2028.

“As both ethanol and renewable diesel, biodiesel drop their carbon intensity, there’s just opportunity after opportunity not only here but abroad.”

The IEA is forecasting global oil demand to go up by nearly 6 million barrels per day, with biofuel production expected to grow by 600,000 barrels per day.

Biofuels expected to ride oil demand higher