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- Global oil demand is forecast to grow by 5.4 mb/d in 2021 and a further 3.3 mb/d next year, when it rebounds to pre-Covid levels at 99.5 mb/d.
www.iea.org/reports/oil-market-report-december-2021
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Mar 17, 2021 · The staggering inventory surplus that built up last year is being worked off and global oil stocks, excluding strategic reserves, will return to pre-pandemic levels in 2021. And yet, there may be no return to “normal” for the oil market in the post-Covid era.
Jul 13, 2021 · Global oil demand is expected to increase by 5.4 mb/d in 2021 and 3.0 mb/d in 2022, although escalating Covid cases in a number of countries remain a key downside risk to the forecast. World oil supply rose by 1.1 mb/d in June to 95.6 mb/d as OPEC+ eased output cuts and producers outside the alliance ramped up after maintenance.
- Oil at $80 Sows The Seeds of Volatility in Supply and Demand
- Cruising Altitude: Physical Tightening Hits Top of The Price Band
- Draws Roll on in 4q21 - 2022 Balances Reflect A More Delicate Dance
- Us Crude Oil at The Heart of Global Deficits
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As markets approach normalization, higher prices breed reactivity in fundamentals, with supply gradually eclipsing the demand story 1. After the demand surge. Oil markets are objectively in a good place with a clear path towards structural tightening for the first time since the 2014 crash. Physical market tightening picked up pace as the vaccine-i...
Momentum has nudged prices higher, but global deficits may be at their peak with no change to structural price determinants in 2022 1. Short-term momentum pushes 3Q2021 prices higher, but we see no catalyst for a revision to our 2022 outlook. As a result of recent upside pressure and physical indicators, we have lifted our outlook for 3Q2021 prices...
Short term tightening to endure, but 2022 looks less clear cut. The relative slowdown in the rate of tightening in the first quarter gave way to a sharp acceleration in draws over the second quarte...
Perfect storm strikes US crude storage tanksThe acceleration in global crude market tightening over the past couple of months has played out most visibly in weekly US statistics, particularly for c...The combination of high exports and high runs (90+% capacity utilization) have been the main drivers of the nearly 50 MMbbl in crude stock draws over the past three months, yet some of the math is...WTI is now more expensive than (or at parity with) 2nd month DME futures for Mideast medium sour crude and ~$1.60 cheaper than its Atlantic Basin cousin light sweet ICE Brent, yet exports remain ro...Global oil demand recovery plays out according to plan, but variants and slow vaccination outside of developed markets mean hopes of a swift boom in “pent-up” demand above 2019 levels looks unlikel...In our base case outlook, refined fuels consumption blossoms 4.6 MMb/d between June and December. Light distillates account for 2.3MM b/d of this forecast and are on their way to meet expectations...One quarter of this increase is in jet fuel and kerosene, concentrated in the US, Asia (ex. mainland China), Latin America and Europe. The delta variant increasingly puts this consumption at risk,...Sep 28, 2021 · LONDON, Sept 28 (Reuters) - Oil demand will grow sharply in the next few years as economies recover from the pandemic, OPEC forecast on Tuesday, adding that the world needs to keep investing in...
Global oil demand is strengthening due to robust gasoline consumption and increasing international travel as more countries re-open their borders. However, new Covid waves in Europe, weaker industrial activity and higher oil prices will temper gains, leaving our forecast for oil demand growth largely unchanged since last month’s Report at 5.5 ...
Feb 23, 2021 · Global oil demand is expected to recover to pre-COVID-19 levels of around 100 million b/d by the end of the year driven by a strong rebound for gasoline, diesel and fuel oil, several analysts said Feb 23.
