Oil Report

UPDATE 1-World biofuels output to more than double by 2030

(Updates with detail in paragraph three)

WASHINGTON, June 25 (Reuters) - Biofuels, including ethanol and biodiesel, will be “an increasingly important source” of global energy supplies over the next two decades, the U.S. Energy Information Administration said Wednesday.

Global biofuels production will rise from 1.3 million barrels per day in 2010 to 2.7 million bpd in 2030, with the United States accounting for almost half that growth, EIA said in its new long-term forecast.

The forecast marks a big jump from the EIA’s previous estimate of 1.7 million bpd of biofuels production by 2030.

The boost will help renewable fuels take up about 8.5 percent of global energy use by 2030, up from about 7.7 percent in 2005, the EIA said.

U.S. biofuels output will grow from 500,000 bpd in 2010 to 1.2 million bpd in 2030, according to the statistical arm of the Department of Energy. (Reporting by Tom Doggett; editing by Matthew Lewis)