OPEC has already lowered its forecasts for global oil demand growth in 2024 and 2025 in its monthly market reports for four months in a row since August. OPEC had maintained its global oil demand growth forecasts of 2.25 million bpd this year and 1.85 million bpd next year by August. Oil ...
Global oil demand is set to hit fresh all-time highs in 2024 but the pace of growth will slow sharply as post-Covid rebound runs its course, global economic headwinds remain and fast-growing alternative fuels weaken the world's need for oil. After surging 6 million b/d in 2021's post...
OPEC already lowered its forecasts for global oil demand growth in 2024 and 2025 in its monthly market reports for three months in a row since August. OPEC had maintained its global oil demand growth forecasts of 2.25 million bpd this year and 1.85 million bpd next year by August. Oil price...
In its monthly oil market report for November, OPEC expected a "healthy" global oil demand growth of 1.82 million barrels per day (bpd) for 2024, but down about 107,000 bpd from the growth of 1.93 million bpd projected last month. OPEC attributed the adjustment to updated data for the fi...
OPEC has revised its global oil demand growth forecast for 2024, citing weaker-than-expected data for the first half of the year and tempered expectations for China’s economic performance. The Organization of the Petroleum Exporting Countries, in its latest monthly report, now predicts that world...
Global oil and gas (O&G) sector performance in 2024 will remain broadly in line with that in 2023 and stronger than mid-cycle levels. Oil prices should remain
Global oil markets should remain “comfortable” this year as new supplies satisfy demand and keep prices in check, according to the International Energy Agency.World consumption will increase by 1.2 MMbpd to 1.3 MMbpd in 2024, a “significantly weaker”
global oil demand. The 2023 mid-term oil market report released by the International Energy Agency in June this year believes that with the acceleration of the transition to clean energy, the growth rate of global oil demand will significantly slow down in the coming years. The Director of ...
While DNV GL’s model predicts global oil demand to peak in 2023, demand for gas will continue to rise until 2034. New resources…
“It seems clear that the threat to economic activity declines as vaccination rates rise, so we should be able to measure the volume of oil demand that remains at risk. Our analysis suggests the threat to global oil demand will last a while,” commented Sarah Emerson, ESAI Energy Pr...