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      • Oil demand is expected to return to 2019 levels by late 2021 to early 2022, depending on the duration of lockdowns and the pace of GDP recovery.
      www.mckinsey.com/industries/oil-and-gas/our-insights/global-oil-supply-and-demand-outlook-to-2040

      Global oil supply-and-demand outlook to 2040 | McKinsey

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  3. www.mckinsey.com › industries › oil-and-gasSnapshot of global oil supply and demand: March 2024

    April 24, 2024 Brent crude oil prices rose in March, increasing by USD1.9/bbl m-o-m to USD85.4/bbl. Prices rose due to tighter oil supplies on account of OPEC+ cuts, resilient economic growth, and continued geopolitical uncertainty: Global oil demand.

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

    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.

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  6. fortune.com › europe › 2024/06/13IEA: By 2030 there will be a ‘staggering’ excess of oil ...

    Jun 13, 2024 · All these factors will culminate in a “staggering” excess of oil by 2030 that will far outstrip demand, Paris-based global energy watchdog International Energy Agency (IEA) warned in a report...

  7. www.usnews.com › news › businessOil Prices Fall as Reality of Weak Global Demand Overtakes ...

    5 days ago · Global oil prices are falling sharply after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared.

  8. www.iea.org › reports › oil-market-report-march-2024Oil Market Report - March 2024 – Analysis - IEA

    Mar 14, 2024 · World oil demand growth is now forecast at 1.3 mb/d in 2024, down sharply from last year’s 2.3 mb/d expansion. The slowdown in growth, already apparent in recent data, means that oil consumption reverts towards its historical trend after several years of volatility from the post-pandemic rebound.

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

    Jun 14, 2023 · The global energy crisis triggered by the war in Ukraine has resulted in an unprecedented reshuffling of global trade flows. Global oil markets could tighten significantly in the coming months, as production cuts by the OPEC+ alliance temper an upswing in global oil supplies.

  10. apnews.com › article › oil-prices-gasoline-israelOil prices fall as reality of weak global demand overtakes ...

    4 days ago · And the OPEC+ alliance, made up of members of the producers cartel and allied countries including Russia, have less sway over global prices than say the 1970s, when an oil embargo that followed the start of the Yom Kippur war in 1973 quadrupled oil prices. The global supply of oil has been altered radically since then, with the U.S. becoming ...

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