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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 hours ago · In 2023, US oil production grew to unprecedented levels, averaging 12.9 million barrels per day and forecasters predict a 2% production increase in 2024. Surging US oil production may help with ...
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.
World oil demand growth, 2018-2024 for selected countries : China, India, Middle East, Rest of the World.
This is one of the key focuses of each monthly report. For example: In this chart, we subtract oil consumption in 2023 from the consumption estimate for 2024. Comparing how the yearly change evolves from one month to the next, we can instantly grasp how demand is changing in the oil market.
Apr 12, 2024 · World oil demand growth continues to lose momentum with 1Q24 growth of 1.6 mb/d, 120 kb/d below our previous forecast due to exceptionally weak OECD deliveries. With the post-Covid rebound now largely complete, and vehicle efficiencies and an expanding EV fleet acting as further drags on oil demand, growth in 2024 and 2025 slows to 1.2 mb/d and ...
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The world economic growth forecasts for 2024 and 2025 remain unchanged at 2.8% and 2.9%, respectively. In the United States, economic growth for 2024 is revised up slightly to 2.1%, as the healthy momentum from 2H23 is expected to carry into 2024while the forecast for 2025 remains at 1.7%. The economic growth ,
