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  1. www.iea.org › commentaries › oil-demand-growing-at-aOil demand growing at a slower pace as post-Covid rebound ...

    Apr 12, 2024 · In both 2022 and 2023, global oil consumption rose by more than 2 mb/d as economies continued their recoveries from the Covid-19 shock and saw spikes in personal mobility, along with exceptional releases of pent-up demand for travel and tourism.

  2. investingnews.com › covid-oil-supply-demandHow Has COVID-19 Impacted Oil Supply and Demand?

    Mar 29, 2021 · The COVID-19 pandemic has not only changed the oil demand picture, but has also altered the oil supply side as well. According to the IEA’s data, declining demand in 2020 left the global...

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  4. www.iea.org › news › slowing-demand-growth-andSlowing demand growth and surging supply put global oil ...

    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.

  5. www.iea.org › news › growth-in-global-oil-demand-isGrowth in global oil demand is set to slow significantly by 2028

    Jun 14, 2023 · Growth in the world’s demand for oil is set to slow almost to a halt in the coming years, with the high prices and security of supply concerns highlighted by the global energy crisis hastening the shift towards cleaner energy technologies, according to a new IEA report released today.

  6. global.unc.edu › news-story › how-the-covid-19How the COVID-19 Pandemic Plunged Global Oil Prices

    Oct 15, 2024 · Why did oil prices suddenly decrease as the COVID-19 pandemic spread? A. There is an unprecedented amount of what we call demand destruction, which is when demand for oil products suddenly disappears.

  7. www.weforum.org › stories › 2020How does the drop in oil demand compare to previous global ...

    May 12, 2020 · In 2008, the Great Recession led to demand falling by 0.66%. So it’s clear this crisis is unique. And it’s had a huge impact on oil prices. In April, they reached a historic low, says the World Bank, with prices for the US benchmark falling below zero on 20 April – as far as minus $37.63 a barrel. Producers were paying to have their oil ...

  8. www.reuters.com › business › oil-falls-second-dayOil dips, little changed on week despite weaker demand ...

    Aug 13, 2021 · Oil prices dipped on Friday and ended the week little changed after weathering concerns from banks and the International Energy Agency that the spread of coronavirus variants is slowing oil...