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- 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.
www.iea.org/reports/oil-market-report-march-2024
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Jul 11, 2024 · World oil demand growth expectations for the 2024 and 2025 are largely unchanged at 970 kb/d and 980 kb/d, respectively. At the same time, global oil supply trended higher, with 2Q24 production up 910 kb/d from 1Q24, led by the United States.
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.
Jun 11, 2024 · World crude oil and liquid fuels consumption is expected to rise by 1.1 million bpd to 103 million bpd this year, the EIA said. That compares with a previous forecast of around 102.8 million...
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.
Jul 10, 2024 · OPEC sees world oil demand rising by 2.25 million bpd in 2024. Expects an increase of 1.85 million bpd in 2025. Both forecasts unchanged from last month. Oil forecasters split more widely...
May 22, 2024 · 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.
Sep 13, 2023 · An expected rise in global oil demand of 1.5 million b/d in the second half of 2023 over H1 will eclipse supply by 1.24 million b/d, it said. The IEA also revised downward its baseline oil demand estimates to reflect recent accounting changes in US demand deliveries data from the US Energy Information Administration.
