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revised up to 1.4% and is expected to grow by 1.2% in 2025. World Oil Demand The global oil demand growth forecast for 2024 remains unchanged at 2.2 mb/d, with the OECD growing by around 0.3 mb/d and the non-OECD by about 2.0 mb/d. The global oil demand growth in 2025 is expected to see a robust growth of 1.8 mb/d, y-o-y.
Oct 8, 2024 · Currently the top oil producer in the world, the U.S. is expected to pump 13.22 million bpd this year, down from a prior forecast of 13.25 million bpd, the EIA said. U.S. oil output in 2025 is now ...
We forecast that global consumption of liquid fuels will increase by 0.9 million b/d in 2024 and 1.3 million b/d in 2025. Our 2024 forecast is down from last month due to downward revisions to demand in China and our 2025 forecast is down primarily because of downward revisions to demand in OECD countries.
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.
Jul 11, 2024 · Oil and gas major BP predicts that the world’s demand for oil will peak next year, ending rising global carbon emissions by the mid-2020s as wind and solar power continue to surge, reports the Guardian. The company’s latest outlook report concludes that oil use will increase by about 2m barrels a day to peak at about 102m in 2025 across ...
Oct 3, 2024 · In this month’s outlook, we expect the Brent price will average $78 per barrel (b) in 2025, $7/b less than we expected in last month’s STEO. In our forecast, lower crude oil prices largely reflect a reduction for global oil demand growth in 2025. Although we reduced our crude oil price forecast, crude oil prices have risen in recent days ...
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Apr 12, 2024 · In 2025, global oil supply is forecast to increase by 1.6 mb/d to a new record of 104.5 mb/d, as non-OPEC+ lead gains for a third straight year, rising by 1.4 mb/d. For context, the additional volumes from the United States, Brazil, Guyana and Canada alone could come close to meeting world oil demand growth for this year and next.
