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Mar 14, 2024 · World oil demand growth is now forecast at 1.3 mb/d in 2024, down sharply from last year’s 2.3 mb/d expansion. The slowdown in growth, already apparent in recent data, means that oil consumption reverts towards its historical trend after several years of volatility from the post-pandemic rebound.
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.
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
World oil demand growth, 2018-2024 for selected countries : China, India, Middle East, Rest of the World.
In 2023, world oil demand exceeded 100 million bbl/d for the first time since the pandemic. Forecasts suggest global oil demand will grow even more in 2024.
Apr 24, 2024 · Global oil demand. Global liquids demand decreased m-o-m by 1.1 MMb/d to 102.3 MMb/d. The decrease was driven by the Middle East and Europe, where demand decreased m-o-m by 0.5 MMb/d and 0.3 MMb/d, respectively. OPEC 10 production (excl. Iran, Venezuela, Libya).
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Will world oil demand grow in 2024?
Will world oil production outstrip demand growth in 2023-2030?
Will non-OPEC+ oil demand increase in 2023?
Which countries are driving global oil demand in 2024?
oil demand is expected to see robust growth of 1.8 mb/d, y-o-y. The OECD is expected to grow by 0.1mb/ d, y-o-y, while demand in the non-OECD is forecast to increase by 1.7 mb/d.