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- Global oil production is poised to outpace demand from December, led by growth in the US and OPEC+ countries. As this upward trend extends into 2022, the US, Canada and Brazil look set to pump at their highest ever annual levels, lifting overall non-OPEC+ output by 1.8 mb/d in 2022.
www.iea.org/reports/oil-market-report-december-2021
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As demand rebounded in 2022 and oil product exports from Russia and China have fallen, refining margins surged to record highs. In the STEPS, rising demand for diesel and kerosene means markets are likely to remain very tight for a number of years.
- Slowing demand growth and surging supply put global oil ...
New IEA medium-term outlook sees comfortably supplied oil...
- Growth in global oil demand is set to slow significantly by 2028
The Oil 2023 medium-term market report forecasts that based...
- Slowing demand growth and surging supply put global oil ...
Jun 12, 2024 · New IEA medium-term outlook sees comfortably supplied oil markets to 2030, though unwavering focus on energy security will remain crucial as powerful forces transform sector. Growth in the world’s demand for oil is expected to slow in the coming years as energy transitions advance.
Jun 14, 2023 · The Oil 2023 medium-term market report forecasts that based on current government policies and market trends, global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day (mb/d) – supported by robust demand from the petrochemical and aviation sectors.
Aug 17, 2022 · Starting in the second quarter of 2022, global liquid fuels production rose above consumption. According to our August Short-Term Energy Outlook, we expect that during 2023, global supply and demand will be very closely matched. We forecast production in 2023 to average 101.3 million barrels per day (b/d) and consumption to average 101.5 ...
Apr 13, 2022 · IEA forecasts global oil market will avoid a ‘sharp’ deficit in 2022. Impact of lower Russian production will be offset by slowing demand in China and emergency stock releases. The IEA...
- Neil Hume
Oct 31, 2022 · Globally, oil demand is projected to increase from almost 97 million barrels a day (mb/d) in 2021 to around 110 mb/d in 2045. Non-OECD countries drive oil demand growth, expanding by close to 24 mb/d over the forecast period, whereas the OECD declines by over 10 mb/d between 2021 and 2045.
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 balance.
