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4 days ago · Global oil demand is expected to grow by just under 900 kb/d in 2024 and by around 1 mb/d in 2025, significantly lower than the 2 mb/d seen in 2023. Chinese oil demand is particularly weak, with consumption dropping by 500 kb/d y-o-y in August – its fourth consecutive month of declines.
- Oil Market Report - September 2024 – Analysis - IEA
Reported monthly data covering 80% of global oil demand...
- Executive summary – Oil 2024 – Analysis - IEA
Emerging economies in Asia, particularly China and India,...
- Oil Market Report - June 2024 – Analysis - IEA
World oil demand growth continues to slow, with 2024 gains...
- Oil Market Report - September 2024 – Analysis - IEA
Sep 12, 2024 · Reported monthly data covering 80% of global oil demand during the first half of 2024 confirm the steep decline in the rate of growth in oil consumption, which we have been projecting since our first forecast for 2024 was published in June 2023. Demand rose by 800 kb/d year-on-year over the first half of the year, dramatically lower than the ...
Emerging economies in Asia, particularly China and India, account for all of global demand growth. By contrast, oil demand in advanced economies falls sharply. Rising world oil supplies, led by non‑OPEC+ producers, are expected to surpass forecast demand from 2025 onwards. Mirroring demand’s break with long-term trends, a front-loaded build ...
Mar 29, 2024 · In S&P Global Commodity Insights' base case, global oil demand is projected to grow by 1.5 million b/d in 2024, a decrease from the 2.0 million b/d growth in 2023. This moderation is influenced primarily by global GDP trends, with real GDP growth expected to slow to 2.3% in 2024 from 2.7% in 2023, reflecting softer economic outlooks worldwide.
Aug 22, 2024 · In contrast, the Organization of the Petroleum Exporting Countries (OPEC) maintains a very bullish view, projecting growth this year of 2.2 million bpd. [2] The path of global demand over the course of 2024–25 will play a critical role in determining oil prices. In particular, China’s economic activity and the risk of a recession in ...
Jun 12, 2024 · World oil demand growth continues to slow, with 2024 gains now seen at 960 kb/d, 100 kb/d below last month’s forecast. Weak OECD deliveries pushed global demand into a narrow y-o-y contraction in March. Subpar growth of 1 mb/d in 2025 is held back by a muted economy and accelerating clean energy technology deployment.
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Apr 24, 2024 · By Nishant Nair. 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.
