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- “As the pandemic rebound loses steam, clean energy transitions advance, and the structure of China’s economy shifts, growth in global oil demand is slowing down and set to reach its peak by 2030. This year, we expect demand to rise by around 1 million barrels per day,” said IEA Executive Director Fatih Birol.
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Jun 12, 2024 · New IEA medium-term outlook sees comfortably supplied oil markets to 2030, though unwavering focus on energy security will remain crucial as powerful forces transform sector. Growth in the world’s demand for oil is expected to slow in the coming years as energy transitions advance.
Mar 11, 2019 · World oil demand growth remains solid, although the pace of growth is slowing. China’s growth slows while India’s demand remains robust, and by 2024 we forecast that India’s annual volume growth will equal China’s.
Dec 26, 2019 · The International Energy Agency said in its latest Oil Market Report that the global oil market will likely be 700,000 bpd in excess of demand in early 2020. That’s despite the efforts of OPEC+...
The deceleration was driven by a sharp slowdown in GDP growth, from 6.8% to 4.8%. Oil demand was also curbed by the monsoon in 2019, the heaviest in 25 years, which boosted hydropower production to record levels and reduced gasoil use for irrigation in agriculture.
Jul 11, 2018 · In its closely followed Monthly Oil Market Report, OPEC expects global oil demand to rise by around 1.45 million bpd in 2019, following expected growth of 1.65 million bpd for 2018, with...
Feb 26, 2021 · COVID-19 sent shocks through global oil markets, with oil demand and supply still struggling to return to pre-pandemic levels. Our outlook looks back at 2020 and presents our most-likely scenarios for oil demand, supply, and prices through 2040.
Feb 24, 2022 · Feb 24 (Reuters) - In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all...
