The IEA now sees oil demand growth in 2025 outpacing this year, after it again downgraded its forecast for 2024 - mostly because of lower than anticipated first-quarter demand in Europe. In its latest Oil Market Report (OMR), published today, the Paris-based agency lowered its oil demand ...
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...
In its monthly oil market report for December, OPEC expected a global oil demand growth of 1.61 million barrels per day (bpd) for 2024, down about 210,000 bpd from the growth of 1.82 million bpd projected last month. OPEC attributed the adjustment to updated data for the first three quarte...
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 May, OPEC projects a healthy global oil demand growth of 2.2 million barrels per day (bpd) for 2024, followed by a "robust" growth of 1.8 million bpd next year, consistent with last month's assessments. The report highlights that China is expected to...
In its monthly oil market report published on Thursday, the oil producer group OPEC stuck to its previous forecast of a "healthy" 2.2 million barrels per day (bpd) demand growth in 2024, explaining that "solid global economic growth, amid continued improvements in China, is expected to further...
naturalgasliquids(NGLs)inthiseraofpetrochemical-drivendemandgrowth. . 0 . 4 Y B C C . A E PAGE|3I Oil2024Acknowledgements Acknowledgements,contributors andcredits ThispublicationwaspreparedbytheOilIndustryandMarketsDivision(OIMD)of theDirectorateofEnergyMarketsandSecurity.TorilBosoni,headofOIMD,led thean...
OPEC on Oct. 12 cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year's figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and high inflation. ...
The International Energy Agency on Wednesday lowered its projection for 2025 oil demand growth though the organization said levels would exceed last year's.
While global oil demand growth is set to ease, in particular as China slows down, it still increases an annual average of 1.2 mb/d to 2024, according to the report, Oil 2019. Still, the IEA continues to see no peak in oil demand, as petrochemicals and jet fuel remain the key drivers...