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Jun 12, 2024 · Growth in the world’s demand for oil is expected to slow in the coming years as energy transitions advance. At the same time, global oil production is set to ramp up, easing market strains and pushing spare capacity towards levels unseen outside of the Covid crisis, according to the IEA’s new oil market outlook.
May 15, 2024 · LONDON (Reuters) -The International Energy Agency (IEA) on Wednesday trimmed its forecast for 2024 oil demand growth, widening the gap with producer group OPEC in terms of expectations for this year's global demand outlook. The divide between the IEA, which represents industrialised countries, and the Organization of the Petroleum Exporting Countries sends divergent signals about oil market ...
Aug 12, 2024 · In a monthly report on Monday, the Organization of the Petroleum Exporting Countries said world oil demand will rise by 2.11 million barrels per day in 2024, down from growth of 2.25 million bpd ...
Jan 18, 2024 · China will continue to lead oil demand growth in 2024, with its expanding petrochemical sector gaining an ever-larger share. At the start of 2024, the risk of global oil supply disruptions from the Middle East conflict remains elevated, particularly for oil flows via the Red Sea and, crucially, the Suez Canal.
Jul 19, 2023 · We forecast petroleum and liquid fuels consumption in China to grow by 0.8 million b/d in 2023 and by 0.4 million b/d in 2024; India’s consumption is forecast to grow by 0.3 million b/d in both 2023 and 2024. Oil prices in 2023 have been considerably less volatile than they were between 2020 and 2022.
Apr 24, 2024 · April 24, 2024 Brent crude oil prices rose in March, increasing by USD1.9/bbl m-o-m to USD85.4/bbl. Prices rose due to tighter oil supplies on account of OPEC+ cuts, resilient economic growth, and continued geopolitical uncertainty: Global oil demand. Global liquids demand decreased m-o-m by 1.1 MMb/d to 102.3 MMb/d.
Feb 13, 2024 · The IEA sees global oil demand growth significantly weakening in 2024 from 2023, Birol said, adding that the agency sees consumption growing by 1.2 million barrels per day (bpd) to 1.3 million bpd ...
