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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
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.
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.
The global oil demand growth forecast for 2024 remains broadly unchanged from last month’s assessment of 2.2 mb/d. Slight adjustments were made to the 1Q24 data, with a slight upward revision in OECD Europe and some nonOECD data- , reflecting better-than-expected performance in oil demand data. This increase was
Jun 12, 2024 · World oil demand growth continues to slow, with 2024 gains now seen at 960 kb/d, 100 kb/d below last month’s forecast. Weak OECD deliveries pushed global demand into a narrow y-o-y contraction in March.
• The expansion in global oil demand next year is likely to be powered by faster-growing economies in the developing world, especially in Asia. • Global oil demand is expected to increase by 1.5 mbd in 2024, down from a forecast 2 mbd in 2023 as world GDP growth moderates to 2.8% from 3.0% in 2023.
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Will world oil demand grow in 2024?
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Will non-OPEC+ oil demand increase in 2023?
Monthly Oil Market Report 2024. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year.
