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1. www.iea.org › reports › oil-market-report-october-2024Oil Market Report - October 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-october-2024

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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...

   • Oil Market Report - August 2024 – Analysis - IEA

     Highlights. Global oil demand increased by 870 kb/d in 2Q24,...

2. www.reuters.com › markets › commoditiesOPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com › markets › commodities

   4 days ago · On Monday, OPEC in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month.

3. www.iea.org › reports › oil-market-report-september-2024Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-september-2024

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   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 ...

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     Oil demand growth projected to slow down nearly 50% in 2024: IEA

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     2024 Crude Oil Forecast and Analysis

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     Oil demand growth projected to slow down nearly 50% in 2024: IEA

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5. www.iea.org › reports › oil-market-report-august-2024Oil Market Report - August 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-august-2024

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   Aug 13, 2024 · Highlights. Global oil demand increased by 870 kb/d in 2Q24, with a contraction in China limiting gains. Demand is set to rise by less than 1 mb/d in both 2024 and 2025. This is largely unchanged from last month’s Report and far slower than last year’s 2.1 mb/d growth as comparatively lacklustre macroeconomic drivers come to the fore.

6. www.bakerinstitute.org › research › market-oil-whatThe Market for Oil: What To Expect in 2024–25 - Baker Institute

   www.bakerinstitute.org › research › market-oil-what

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   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 ...

7. www.spglobal.com › commodityinsights › enTop 10 factors shaping global oil markets and mobility in 2024

   www.spglobal.com › commodityinsights › en

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   Mar 29, 2024 · The outlook for China's oil demand projects a notable slowdown, with growth anticipated to halve from 1.02 million b/d in 2023 to just 490,000 b/d in 2024. This deceleration is attributed to a weaker rebound post-pandemic reopening, a cooling real estate market, a pivot towards a service-oriented economy, and the increasing adoption of electric and alternative fuel vehicles.

8. People also ask

   Will global oil demand decline in the first half of 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.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

   See all results for this question

   Why did oil prices rise in March 2024?

   • Our dashboard explores key short-term signposts impacting oil demand, supply, and prices. 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.

   Snapshot of global oil supply and demand: March 2024 | McKinsey & C…

   www.mckinsey.com/industries/oil-and-gas/our-insights/oil-and-gas-blog/snapshot-of-global-oil-supply-and-demand

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   Will OPEC increase oil demand in 2024?

   • On Monday, OPEC in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month. Until August, OPEC had kept the forecast unchanged since it was first made in July 2023. China accounted for the bulk of the 2024 downgrade.

   OPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com/markets/commodities/opec-cuts-2024-2025-global-oil-demand-growth-view-again-2024-10-14/

   See all results for this question

   Why is global oil demand declining?

   • Global oil demand growth continues to decelerate, with reported 1H24 gains of 800 kb/d y-o-y the lowest since 2020. The chief driver of this downturn is a rapidly slowing China, where consumption contracted y-o-y for a fourth straight month in July, by 280 kb/d.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

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   Why has crude oil price volatility remained low compared to H1 2023 & 2022?

   • Although crude oil price volatility has remained relatively lower during the past six months, compared to H1 2023 and 2022, uncertainty around crude oil prices remain due to geopolitical issues across several regions globally and continued OPEC+ supply cuts.

   Snapshot of global oil supply and demand: March 2024 | McKinsey & C…

   www.mckinsey.com/industries/oil-and-gas/our-insights/oil-and-gas-blog/snapshot-of-global-oil-supply-and-demand

   See all results for this question

   Why did oil prices drop in August?

   • The rapid decline in global oil demand growth in recent months, led by China, has fuelled a sharp sell-off in oil markets. Brent crude oil futures have plunged from a high of more than $82/bbl in early August to a near three-year low at just below $70/bbl on 11 September, despite hefty supply losses in Libya and continued crude oil inventory draws.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

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9. www.mckinsey.com › industries › oil-and-gasSnapshot of global oil supply and demand: March 2024

   www.mckinsey.com › industries › oil-and-gas

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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.