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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.
In 2023, world oil demand exceeded 100 million bbl/d for the first time since the pandemic. Forecasts suggest global oil demand will grow even more in 2024.
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.
Apr 12, 2024 · 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 1.1 mb/d, respectively. Non-OPEC+, led by the US, is set to drive world supply growth through 2025.
Jan 26, 2024 · World Oil forecasts that South American drilling will increase just over 3%, led by operations in Brazil, Guyana, Argentina, and, surprisingly, Venezuela.
world oil demand is forecast to grow by a healthy 2.2 mb/d, reaching about 104.25 mb/d. The OECD is anticipated to expand by 0.26 mb/d, with OECD Americas contributing the largest increase.
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. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market ...
