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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.
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.
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.
Nov 3, 2023 · There is plenty of uncertainty and disagreement around global oil demand growth in 2024, with OPEC and the IEA in particular disagreeing.
- Editorial Dept
Apr 12, 2024 · World oil demand growth has nevertheless been revised down by roughly 100 kb/d since last month’s Report, to 1.2 mb/d, following exceptionally weak deliveries in the OECD at the start of the year.
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May 8, 2024 · The US EIA revised its earlier forecast on world oil demand for 2024 on Tuesday, indicating that it is expected to grow at a slower pace. Additionally, the EIA predicts that global oil output will expand faster than previously estimated, leading to a more balanced market.
