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Jun 11, 2021 · Global refinery throughput in 2021 is expected to recover half of the 7.4 mb/d fall in 2020, lagging behind demand growth for refined products as surplus inventories are drawn down. In 2022, refining activity is forecast to increase by 2.4 mb/d. 3.8 mb/d of new capacity coming on line over 2021-22 will be partially offset by 2.3 mb/d of announced closures or conversions to bio-refineries.
- Oil Market Report - December 2021 – Analysis - IEA
On average, oil demand has been revised down by around 100...
- Oil Market Report - August 2022 – Analysis - IEA
In this Report, we have raised our estimates for 2022 global...
- Oil Market Report - September 2022 – Analysis - IEA
In 2022, global production is forecast to rise by 4.8 mb/d,...
- Oil Market Report - December 2021 – Analysis - IEA
Feb 16, 2022 · However, it is probably safe to say that there are three key underlying reasons: 1. Booming economic growth driving demand for oil. Two years ago when COVID-19 started, there was a plunge in economic activity and oil demand. Producers were adjusting production levels, but there is only so much one can do without destroying reservoirs or capital ...
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 ...
Aug 11, 2022 · In this Report, we have raised our estimates for 2022 global demand growth by 380 kb/d, to 2.1 mb/d. Gains mask relative weakness in other sectors, and a slowdown in growth from 5.1 mb/d at the start of the year to less than 100 kb/d by 4Q22. World oil demand is now forecast at 99.7 mb/d in 2022 and 101.8 mb/d in 2023.
For the year as a whole, global oil demand is forecast to average 99.4 mb/d in 2022, up 1.8 mb/d y-o-y. As restrictions in China ease, summer driving picks up and jet fuel continues to recover, world oil demand is set to rise by 3.6 mb/d from an April low through August.
Sep 14, 2022 · In 2022, global production is forecast to rise by 4.8 mb/d, to 100.1 mb/d, and by 1.7 mb/d in 2023 to 101.8 mb/d. Persistent demand weakness in China considerably slowed the pace of a summer ramp-up in refining activity. After reaching a post-Covid peak in August of 81.4 mb/d, refinery throughputs are expected to fall in September-October on ...
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Oct 13, 2022 · The stronger economic headwinds have led us to lower our forecast for world oil demand growth for 2023 by 470 kb/d from last month’s Report, to 1.7 mb/d. Our revisions are underpinned by further downgrades to global GDP growth expectations from major institutions, with recession now expected in several European countries and risks increasing for emerging and developing economies.
