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- (Bloomberg) -- Global oil markets are on track to be “extremely tight” in the second half, with prices rising to a level that will eventually constrain demand if OPEC doesn’t bring back more supply, said the head of commodities at hedge fund Citadel.
www.bnnbloomberg.ca/oil-market-to-get-extremely-tight-in-second-half-citadel-says-1.2056401Oil Market to Get ‘Extremely Tight’ in Second Half, Citadel Says
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Where did oil demand grow in 2019 & 2020?
How will global oil prices change in 2022 & 2023?
Will global oil inventories increase in 2021?
How will global oil inventories change in 2024?
Highlights. Global oil demand increased by 900 kb/d y-o-y in 3Q19, the strongest annual growth in a year. Nearly three-quarters of the growth occurred in China. Indian demand rose 135 kb/d, but OECD deliveries fell for the fourth straight quarter and are expected to decline 75 kb/d overall in 2019.
We forecast that global oil inventories will begin increasing at an average of 0.4 million b/d in 2Q25 and will increase by 0.6 million b/d in the second half of 2025. As a result, we expect oil prices will increase to an average of $87/b in 4Q24 and $88/b in 1Q25.
May 23, 2024 · This forecast seems at odds with the EIA's preliminary weekly production data that shows US crude oil production stagnant at around 13.1 mb/d for a few months now. For its 2025 prediction to come ...
We estimate that global oil inventories have fallen for six consecutive quarters going back to the third quarter of 2020 (3Q20), declining at an average rate of 2.1 million barrels per day (b/d) in 2H20 and at an average rate of 1.4 million b/d in 2021.
Mar 11, 2019 · Oil 2019, the annual IEA outlook for global oil markets, examines the key issues in demand, supply, refining and trade to 2024.
Jun 11, 2024 · As a result, we expect that the extension of voluntary OPEC+ production cuts will cause global oil inventories to continue falling through 1Q25. Although we expect crude oil prices to rise from early June levels, lower-than-expected Brent prices in May mean our forecast for 2024 is $84/b, 4% lower than our May forecast.
The changing geography of oil supply and demand in the Stated Policies Scenario transforms global oil trade. Asia takes an increasing share of global imports, and gross oil exports from the United States overtake those from Saudi Arabia by the mid-2020s.
