“Persistent overproduction from some OPEC+ members, robust supply growth from non-OPEC+ countries and relatively modest global oil demand growth leaves the market looking comfortably supplied in 2025,” the IEA said in its report. The agency, however, forecast global oil-demand growth of 1.1 m...
Crude oil prices slumped Tuesday as theInternational Energy Agency (IEA) cut its projection for oil demand growth, noting China's slowing economy was behind the decision.1 The IEA said oil demand will grow “just shy of” 900,000barrels per day (B/D)in 2024. In September, the IEA had ...
The forecast comes a week after theOrganization of the Petroleum Exporting Countriesand its allies (OPEC+) announced they will keepvoluntary production cutsof 2.2 million B/D in place until the end of March.2 Still "persistent overproduction from some OPEC+ members, robust supply growth from non...
Forecast for Oil Price Slashed by IEARead the full-text online article and more details about "Forecast for Oil Price Slashed by IEA" by Arnott, Sarah - The Independent (London, England), November 14, 2008By ArnottSarah
Over the past 18 months, the main investment analysts have argued that high oil prices would have no impact on the global economy. Now, new forecasts suggest their optimism has been misplaced. The chart above gives the International Energy Agency’s latest forecast of likely oil demand growth...
On the demand side, the IEA followed OPEC by downwardly revising its global oil demand growth forecast for 2019 on Friday. The energy agency said it now expects oil demand growth to reach 1.2 million barrels per day (b/d) this year. That's a downward revision of 100,000 b/d fro...
IEA Improves Forecast of Oil Price to $88 Per Barrel in 2025,to $112 in 2040 The International Energy Agency (IEA) has improved its forecast for oil price by 6 percent to $88 per barrel in 2025 and by 0.9 percent to $112 per barrel in 2040, according to IEA’s World Energy Outlook...
I think the IEA has proven inaccurate in their ability to definitively forecast. Additionally, it is in their interest to hype up production and be wrong (i.e. Better to have than have not). Two significant factors: climate change (suppressing fuel consumption and less heating oil) and ...
In its monthly oil report, the agency said global oil demand in 2015 will grow by 900,000 barrels a day, 230,000 less than previously forecast. Following its report Friday, the benchmark New York oil price slipped further below $60 a barrel. In late morning trading in London, it was ...
The International Energy Agency (IEA) has released its oil market report for March 2020. Highlights Covid-19 (coronavirus) has spread beyond China and the IEA's 2020 base case global oil demand forecast is cut by 1.1 mb/d. For the first time since 2009, demand is expected to fall, by...