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A ramping up of world oil production capacity, led by the United States and other producers in the Americas, is expected to outstrip demand growth over the 2023-2030 forecast period and inflate the world’s spare capacity cushion to levels
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.
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.
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World oil demand growth, 2018-2024 for selected countries : China, India, Middle East, Rest of the World.
oil demand is expected to see robust growth of 1.8 mb/d, y-o-y. The OECD is expected to grow by 0.1mb/ d, y-o-y, while demand in the non-OECD is forecast to increase by 1.7 mb/d.
People also ask
Will world oil demand grow in 2024?
Will world oil production outstrip demand growth in 2023-2030?
Will non-OPEC+ oil demand increase in 2023?
How will global oil supply change in 2024?
World oil supply is set to increase by 1.7 mb/d to a record 103.8 mb/d in 2024, with non-OPEC+ providing 95% of the incremental barrels. With the robust outlook for non-OPEC+ supply, our balances suggest a slight build in inventories in
