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Dec 14, 2021 · On average, oil demand has been revised down by around 100 kb/d since last month’s Report for both 2021 and 2022. Global oil demand is now set to rise by 5.4 mb/d in 2021 and by 3.3 mb/d in 2022, when it returns to pre-pandemic levels at 99.5 mb/d. Global oil production is poised to outpace demand from December, led by growth in the US and ...
Mar 17, 2021 · Oil demand in 2025 is set to be 2.5 mb/d lower than was forecast a year ago in our Oil 2020 report. All of this demand growth relative to 2019 is expected to come from emerging and developing economies, underpinned by rising populations and incomes. Asian oil demand will continue to rise strongly, albeit at a slower pace than in the recent past.
Crude Oil decreased 0.70 USD/BBL or 0.97% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Crude Oil reached an all time high of 147.27 in July of 2008. Crude Oil - data, forecasts, historical chart - was last updated on October 15 of 2024.
May 12, 2021 · Highlights. Global oil consumption is now forecast to rise by 5.4 mb/d in 2021, 270 kb/d lower than in our previous Report. Europe and OECD Americas have been revised down by 320 kb/d and 515 kb/d respectively in 1Q21, while India’s Covid crisis led us to downgrade its demand in 2Q21 by 630 kb/d. The forecast for 2H21 is left roughly ...
- The ongoing energy crisis has prompted a switch to oil that could boost demand by 500 kb/d compared with normal conditions. This contributed to an upward revision to our 2021 and 2022 forecast, by 170 kb/d and 210 kb/d respectively.
- World oil supply has resumed its uptrend as OPEC+ continues to unwind cuts, the US bounces back from Hurricane Ida and maintenance winds down. From September through end-2021, global output is set to rise 2.7 mb/d with OPEC+ accounting for 1.5 mb/d and non-OPEC+ pumping the rest.
- Global refinery activity in 3Q21 continued to disappoint, with lower throughputs in China and India in August only partially offset by a stronger performance in OECD Asia and Europe.
- OECD total industry stocks drew by 28 mb in August to 2 824 mb, 162 mb below pre-Covid five-year average. Preliminary September data for the US, Europe and Japan show on-land industry stocks fell by a further 23 mb.
Monthly Oil Market Report 2021. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market ...
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However, new Covid waves in Europe, weaker industrial activity and higher oil prices will temper gains, leaving our forecast for oil demand growth largely unchanged since last month’s Report at 5.5 mb/d for 2021 and 3.4 mb/d in 2022. US output is rising amid stronger oil prices.
