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A ramping up of world oil production capacity, led by the United States and other producers in the Americas, is expected to outstrip demand growth over the 2023‑2030 forecast period and inflate the world’s spare capacity cushion to levels that are unprecedented, barring the Covid-19 period.
Mar 14, 2024 · As in 2023, non-OPEC+ oil supply growth will eclipse the oil demand expansion by some margin. Led by the United States, non-OPEC+ production is forecast to rise by 1.6 mb/d in 2024 compared to 2.4 mb/d last year when global oil output climbed by 2 mb/d to 102 mb/d.
A ramping up of world oil production capacity, led by the United States and other producers in the Americas, is expected to outstrip demand growth over the 2023-2030 forecast period and inflate the world’s spare capacity cushion to levels
Jun 12, 2024 · The report provides detailed analysis and forecasts of oil demand fundamentals across fuels, sectors and regions. It also outlines projected supply from planned upstream and downstream projects around the world.
The world economic growth forecasts for 2024 and 2025 remain unchanged at 2.8% and 2.9%, respectively. In the United States, economic growth for 2024 is revised up slightly to 2.1%, as the healthy momentum from 2H23 is expected to carry into 2024while the forecast for 2025 remains at 1.7%. The economic growth ,
OPEC : Monthly Oil Market Report 2024. Home Publications Reports Monthly Oil Market Report Monthly Oil Market Report 2024.
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Will world oil demand grow in 2024?
Will world oil production outstrip demand growth in 2023-2030?
Will US oil supply expand in 2024?
Will non-OPEC+ oil demand increase in 2023?
For 2024, we expect oil demand to grow in the region of 1m b/d, which would be roughly half of the demand growth achieved in 2023. A slower growth rate should not be surprising, given that the post-Covid demand recovery is now largely behind us. In addition, global GDP growth is set to slow this year, given the scale of monetary
