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2029
- Global oil demand will peak by 2029 and begin to contract the next year, the International Energy Agency said on Wednesday, while oil supply capacity is due to vastly outpace demand by the end of the decade.
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Why did oil demand rise 103mn barrels a day in June?
Aug 11, 2023 · Demand reached an all-time high of 103mn barrels a day in June driven by better than expected economic growth in OECD countries, strong summer air travel and surging oil consumption in...
- Global oil demand set to reach record high as China reopens ...
Global oil demand is set to rise to an all-time high in 2023...
- Global oil demand set to reach record high as China reopens ...
Jan 18, 2023 · Global oil demand is set to rise to an all-time high in 2023 as China relaxes its Covid-19 restrictions in a move that may push crude prices higher in the second half of the year, according to...
Mar 14, 2024 · Global oil demand is forecast to rise by a higher-than-expected 1.7 mb/d in 1Q24 on an improved outlook for the United States and increased bunkering. While 2024 growth has been revised up by 110 kb/d from last month’s Report, the pace of expansion is on track to slow from 2.3 mb/d in 2023 to 1.3 mb/d, as demand growth returns to its ...
Jun 12, 2024 · Global oil demand will peak by 2029 and begin to contract the next year, the International Energy Agency said on Wednesday, while oil supply capacity is due to vastly outpace demand by the end...
- Global oil demand. Global liquids demand decreased m-o-m by 2.6 MMb/d to 100.4 MMb/d. The decline was driven by Europe and China, where demand decreased m-o-m by 0.8 MMb/d and 0.6 MMb/d, respectively.
- OPEC 10 production (excl. Iran, Venezuela, Libya). OPEC 10’s production decreased slightly, by 0.1 MMb/d m-o-m to 26.9 MMb/d. OPEC’s production has declined by 1.97 MMb/d since January 2023 as it continues to curtail supply, with added uncertainty due to geopolitical tension in Iran.
- Non-OPEC production (excl. US shale). Non-OPEC production decreased by 0.9 MMb/d m-o-m to 60.1 MMb/d. The decline was primarily driven by US non-shale onshore production, which witnessed a m-o-m decline of 0.5 MMb/d due to extreme cold weather disruptions.
- US shale oil production. US shale oil production declined sharply by 0.5 MMb/d m-o-m in January to 9.3 MMb/d as a result of shut-downs due to cold weather across central US.
Aug 11, 2023 · World oil demand is scaling record highs, boosted by strong summer air travel, increased oil use in power generation and surging Chinese petrochemical activity. Global oil demand is set to expand by 2.2 mb/d to 102.2 mb/d in 2023, with China accounting for more than 70% of growth.
Aug 11, 2023 · World oil use hit a record high of 103 million barrels a day in June and is likely to grow further in August. In fact, demand is expected to average a record-setting 102.2 million barrels...
