Search results
- Countries outside the OPEC+ group will lead supply growth, and this growth will be enough to meet demand in the first half of 2023. However, non-OPEC+ growth is expected to fall short in the second half “when seasonal trends and China’s recovery are set to boost demand to record levels,” the agency noted.
oilprice.com/Energy/Energy-General/IEA-Global-Oil-Demand-Will-Outstrip-Supply-In-Late-2023.html
People also ask
What is OPEC's forecast for world oil demand in 2023?
How will OPEC+ impact global output in 2023?
What will OPEC demand look like in 2024?
How will global oil demand grow in 2023?
Why did the IEA cut its forecast for oil demand growth in 2023?
How much oil did OPEC pump in November?
Non-OPEC+ will again drive global gains in 2024, projected at 1.2 mb/d after OPEC+ deepens its voluntary oil cuts. Russian crude export prices declined sharply in November, with Urals falling below the $60/bbl price cap on 6 December.
- Oil Market Report - October 2024 – Analysis - IEA
At the same time, non-OPEC+ oil supply, led by the Americas,...
- Oil Market Report - October 2024 – Analysis - IEA
2 days ago · At the same time, non-OPEC+ oil supply, led by the Americas, continues to make robust gains of around 1.5 mb/d this year and next. The United States, Brazil, Guyana and Canada are set to account for most of the increase, boosting output by over 1 mb/d both years, which will more than cover expected demand growth.
Non-OPEC+ producers lead oil supply capacity growth. Global upstream oil and gas investment is on track to increase by an estimated 11% in 2023 to USD 528 billion, compared with USD 474 billion in 2022.
For 2023, the forecast for world oil demand growth remain broadly unchanged at 2.3 mbs /d, with the OECD projected to grow by almost 0.1 mb/d and the non-OECD expected to grow by about 2.3 mb/d. Within the
Dec 14, 2023 · Cuts 2023 demand growth forecast by 90,000 bpd. Raises 2024 demand growth forecast by 130,000 bpd to 1.1 mbpd. Gap remains between OPEC, IEA views on 2024 oil demand growth. Says...
Oct 12, 2023 · Highlights. Raises non-OPEC 2023 liquids supply growth forecast to 1.7 mil b/d. Lowers demand forecast for OPEC crude by 100,000 b/d in 2023, 2024. Maintains global oil demand growth forecasts for 2023, 2024. OPEC is revising down estimates of demand for its crude, amid expectations of growing non-OPEC supply in 2023 and 2024. Not registered?
Mar 15, 2023 · We expect non-OPEC+ to drive global output growth of 1.6 mb/d this year, enough to meet demand in 1H23 but falling short in the second half when seasonal trends and China’s recovery are set to boost demand to record levels.
