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5.4 mb/d
- Following a record decline of 8.6 mb/d in 2020, global oil demand is forecast to rebound by 5.4 mb/d in 2021 and a further 3.1 mb/d next year, to average 99.5 mb/d. By end-2022, demand should surpass pre-Covid levels. The recovery will be uneven not only amongst regions but across sectors and products.
www.iea.org/reports/oil-market-report-june-2021
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Jun 11, 2021 · Following a record decline of 8.6 mb/d in 2020, global oil demand is forecast to rebound by 5.4 mb/d in 2021 and a further 3.1 mb/d next year, to average 99.5 mb/d. By end-2022, demand should surpass pre-Covid levels.
- Oil markets face uncertain future after rebound from historic ...
World oil markets have rebounded from the massive demand...
- Oil 2021 – Analysis - IEA - International Energy Agency
In the absence of stronger policy action, global oil...
- Oil markets face uncertain future after rebound from historic ...
Mar 17, 2021 · World oil markets have rebounded from the massive demand shock triggered by Covid-19 but still face a high degree of uncertainty that is testing the industry as never before, according to a new IEA report.
Mar 17, 2021 · In the absence of stronger policy action, global oil production would need to rise 10.2 mb/d by 2026 to meet the expected rebound in demand. Producers from the Middle East are expected to provide half of the increase, largely from existing shut-in capacity.
Sep 28, 2021 · Oil use will rise by 1.7 million barrels per day in 2023 to 101.6 million bpd, OPEC said its 2021 World Oil Outlook, adding to robust growth already predicted for 2021 and 2022 , and...
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- Draws Roll on in 4q21 - 2022 Balances Reflect A More Delicate Dance
- Us Crude Oil at The Heart of Global Deficits
- Delta Fatigue: Deep Lockdown Risk Fades, But Regional Divides Grow
As markets approach normalization, higher prices breed reactivity in fundamentals, with supply gradually eclipsing the demand story 1. After the demand surge. Oil markets are objectively in a good place with a clear path towards structural tightening for the first time since the 2014 crash. Physical market tightening picked up pace as the vaccine-i...
Momentum has nudged prices higher, but global deficits may be at their peak with no change to structural price determinants in 2022 1. Short-term momentum pushes 3Q2021 prices higher, but we see no catalyst for a revision to our 2022 outlook. As a result of recent upside pressure and physical indicators, we have lifted our outlook for 3Q2021 prices...
Short term tightening to endure, but 2022 looks less clear cut. The relative slowdown in the rate of tightening in the first quarter gave way to a sharp acceleration in draws over the second quarte...
Perfect storm strikes US crude storage tanksThe acceleration in global crude market tightening over the past couple of months has played out most visibly in weekly US statistics, particularly for c...The combination of high exports and high runs (90+% capacity utilization) have been the main drivers of the nearly 50 MMbbl in crude stock draws over the past three months, yet some of the math is...WTI is now more expensive than (or at parity with) 2nd month DME futures for Mideast medium sour crude and ~$1.60 cheaper than its Atlantic Basin cousin light sweet ICE Brent, yet exports remain ro...Global oil demand recovery plays out according to plan, but variants and slow vaccination outside of developed markets mean hopes of a swift boom in “pent-up” demand above 2019 levels looks unlikel...In our base case outlook, refined fuels consumption blossoms 4.6 MMb/d between June and December. Light distillates account for 2.3MM b/d of this forecast and are on their way to meet expectations...One quarter of this increase is in jet fuel and kerosene, concentrated in the US, Asia (ex. mainland China), Latin America and Europe. The delta variant increasingly puts this consumption at risk,...Sep 14, 2021 · Global oil demand is set to rebound next month from the recent impact of the delta variant of COVID-19, with consumption in oil markets set to tighten before year-end if Iran remains under sanctions, the International Energy Agency said Sept. 14.
Dec 11, 2020 · Global oil demand will rise in 2021, but not enough to surpass 2019 levels as the coronavirus pandemic continues to weigh on transportation fuel demand, especially jet fuel, according S&P Global Platts Analytics.
