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  1. Mar 14, 2024 · World oil demand growth is now forecast at 1.3 mb/d in 2024, down sharply from last year’s 2.3 mb/d expansion. The slowdown in growth, already apparent in recent data, means that oil consumption reverts towards its historical trend after several years of volatility from the post-pandemic rebound.

  2. Jun 12, 2024 · The report provides detailed analysis and forecasts of oil demand fundamentals across fuels, sectors and regions. It also outlines projected supply from planned upstream and downstream projects around the world.

  3. Jan 26, 2024 · According to the forecast, as many states will be down as up, bringing total growth for U.S. wells to a mere 0.6%. Notable among U.S. gains will be increases in the Gulf of Mexico, which will...

    • Global oil demand growth slowed to 1.7 mb/d y-o-y in 4Q23 – well below the 3.2 mb/d rate registered during 2Q23-3Q23, mirroring the unwinding of China’s post-pandemic release of travel demand.
    • World oil supply is forecast to rise by 1.5 mb/d to a new high of 103.5 mb/d, fuelled by record-setting output from the US, Brazil, Guyana and Canada.
    • Divergence in regional refinery profitability narrowed further in December as margins in the Atlantic Basin weakened but strengthened in Singapore. Refinery crude throughputs are forecast to average 83.3 mb/d in 2024, overtaking 2018’s record of 82.5 mb/d.
    • Russian oil exports rose by 500 kb/d to a nine-month high of 7.8 mb/d in December. Crude shipments were up by 240 kb/d m-o-m to 5 mb/d while product flows rose by 260 kb/d.
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  5. Jun 14, 2024 · From a global base of 103.2 million barrels per day (BPD) in 2024, the IEA believes demand will grow to 105.6 million BPD by 2029 and decrease slightly to 105.5 million BPD in 2030 (Table 2 in...

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  7. Dec 14, 2023 · Raises 2024 demand growth forecast by 130,000 bpd to 1.1 mbpd. Gap remains between OPEC, IEA views on 2024 oil demand growth. Says non-OPEC+ supply growth in 2024 may exceed demand growth.