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- We reduced our forecast for world oil production in the second quarter of 2024 (2Q24) to 101.3 million barrels per day (b/d) in the March STEO in response to OPEC+ extending its cuts. That results in global oil production that is 0.9 million b/d less than our forecast of 102.2 million b/d for world oil consumption.
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Will world oil demand exceed output in 2024?
What is the EIA's short-term Energy Outlook for 2024?
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What will global oil demand look like next year?
May 7, 2024 · NEW YORK, May 7 (Reuters) - World oil demand this year is expected to grow less than earlier forecast and output should expand faster than previous estimates, resulting in a more balanced...
- EIA sees tighter US oil market for 2024, lowers price outlook
The U.S. Energy Information Administration on Tuesday...
- Global oil market will be in supply deficit next year, EIA ...
Global oil demand will average about 104.7 million barrels...
- EIA sees tighter US oil market for 2024, lowers price outlook
Sep 5, 2024 · We estimate that global oil inventories will increase by an average of 0.5 million b/d in the second half of 2025 (2H25). We forecast the Brent price will average $84/b in 2025. Recent production outages in Libya add a new source of uncertainty for crude oil prices in the coming months.
May 8, 2024 · World oil demand is expected to grow lesser this year than earlier estimates and output should grow faster than thought previously, resulting in a more balanced market, the U.S. Energy Information Administration (EIA) said on Tuesday.
Aug 6, 2024 · The U.S. Energy Information Administration on Tuesday forecast tighter supply and demand balances for U.S. oil markets this year, while also lowering its outlook for crude prices, according...
Sep 5, 2024 · Crude oil prices. Despite a drop in the Brent crude oil spot price to $73 per barrel (b) on September 6, we expect ongoing withdrawals from global oil inventories will push prices back above $80/b this month.
Jan 9, 2024 · The EIA expects global liquid fuels consumption to reach a new record of 103.67 million b/d in 2025, according to the STEO. Yet growth in 2024 and 2025 is still less than the 1.9 million b/d growth in 2023, the EIA said.
Jul 9, 2024 · Global oil demand will average about 104.7 million barrels per day (bpd) next year, while supply will be around 104.6 million bpd, the EIA said in its monthly short-term energy outlook.
