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1. www.eia.gov › outlooks › steoShort-Term Energy Outlook - U.S. Energy Information ...

   www.eia.gov › outlooks › steo

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   Jun 11, 2024 · Following the start of the phaseout of voluntary OPEC+ supply cuts in 4Q24 and supported by the ongoing supply growth from countries outside of OPEC+, we expect growth in global oil supply will outweigh growth in global oil demand growth, returning the market to moderate inventory builds for most of 2025.

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     Global oil production: OPEC+ crude oil production :...

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     Natural gas production in the Permian region, which is...

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     Global oil markets; Petroleum products; Natural gas;...

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     OPEC+ crude oil production. In our May outlook, we had...

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2. www.theglobeandmail.com › business › industry-newsIEA trims 2024 oil demand growth forecast, widens gap with ...

   www.theglobeandmail.com › business › industry-news

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   May 15, 2024 · Global oil demand this year will grow by 1.1 million barrels per day (bpd), the Paris-based IEA said in a monthly report, down 140,000 bpd from the previous forecast, largely citing...

3. www.reuters.com › markets › commoditiesOPEC sticks to 2024 oil demand growth forecast but trims Q1 ...

   www.reuters.com › markets › commodities

   Jun 11, 2024 · OPEC on Tuesday stuck to its forecast for relatively strong growth in global oil demand in 2024, despite lower-than-expected use in the first quarter, saying travel and tourism would support...

4. www.spglobal.com › commodityinsights › enOPEC remains optimistic on oil demand growth, despite ...

   www.spglobal.com › commodityinsights › en

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   May 14, 2024 · It expects non-OPEC+ supply growth of 1.2 million b/d in 2024, and 1.1 million b/d in 2025 -- well below the pace of its forecast for global demand growth, providing a bullish case for the alliance as it prepares to meet. It sees the US, Canada, Brazil and Norway as the main growth drivers.

   • Author: Rosemary Griffin

5. www.theglobeandmail.com › business › industry-newsOPEC sticks to oil demand view, shifts key forecast to OPEC+

   www.theglobeandmail.com › business › industry-news

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   May 14, 2024 · OPEC stuck to its forecast for strong growth in global oil demand in 2024 on Tuesday and said it would switch to focus on projected demand for OPEC+ crude, reflecting that the wider group is now...

6. finance.yahoo.com › news › opec-sticks-2024-oilIn first look at 2025, OPEC expects robust oil demand growth

   finance.yahoo.com › news › opec-sticks-2024-oil

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   Jan 17, 2024 · OPEC, in a monthly report, said world oil demand will rise by 1.85 million barrels per day in 2025 to 106.21 million bpd. For 2024, OPEC saw demand growth of 2.25 million bpd, unchanged from...

   • Video Duration: 5 min

   • Author: Alex Lawler

7. People also ask

   Will global oil supply outweigh OPEC+ supply growth?

   • Following the start of the phaseout of voluntary OPEC+ supply cuts in 4Q24 and supported by the ongoing supply growth from countries outside of OPEC+, we expect growth in global oil supply will outweigh growth in global oil demand growth, returning the market to moderate inventory builds for most of 2025.

   Short-Term Energy Outlook - U.S. Energy Information Administration (EI…

   www.eia.gov/outlooks/steo/report/global_oil.php

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   Is OPEC planning a strong growth in global oil demand in 2024?

   • LONDON (Reuters) -OPEC stuck to its forecast for strong growth in global oil demand in 2024 on Tuesday and said it would start projecting demand for OPEC+ crude, reflecting that the wider group is now the main forum for cooperation to support the market.

   OPEC sticks to oil demand view, shifts key forecast to OPEC+

   ca.finance.yahoo.com/news/opec-sticks-oil-demand-view-100738475.html

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   Will OPEC+ cuts increase global oil supply in 2025?

   • Even if OPEC+ voluntary production cuts were to stay in place, global oil supply could jump by 1.8 million bpd in 2025, compared with this year’ 580,000-bpd increase, the agency forecast, largely on the strength of non-OPEC+ output growth. The IEA and OPEC also differ over the demand outlook in the medium and long term.

   IEA trims 2024 oil demand growth forecast, widens gap with OPEC

   www.theglobeandmail.com/business/industry-news/energy-and-resources/article-iea-trims-2024-oil-demand-growth-forecast-widens-gap-with-opec/

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   How much oil does OPEC need in 2024?

   • In the report, OPEC projected 2024 demand for DoC crude at 43.2 million bpd, compared with world oil demand of 104.5 million bpd, and said the group produced 41.02 million bpd in April, below the expected demand. OPEC itself pumped 26.58 million bpd in April, down 48,000 bpd, the report said. Sign up for the Energy Newsletter.

   OPEC sticks to oil demand view, shifts key forecast to OPEC+

   www.theglobeandmail.com/business/industry-news/energy-and-resources/article-opec-sticks-to-2024-oil-demand-forecast-sees-potential-economic-upside/

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8. ca.finance.yahoo.com › news › opec-sticks-oil-demandOPEC sticks to oil demand view, shifts key forecast to OPEC+

   ca.finance.yahoo.com › news › opec-sticks-oil-demand

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   May 14, 2024 · In the report, OPEC projected 2024 demand for DoC crude at 43.2 million bpd, compared with world oil demand of 104.5 million bpd, and said the group produced 41.02 million bpd in April, below...