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1. www.iea.org › reports › oil-market-report-october-2024Oil Market Report - October 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-october-2024

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   Oct 15, 2024 · 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.

   • Oil Market Report - September 2024 – Analysis - IEA

     The country’s oil demand is now set to expand by only 180...

   • Executive summary – Oil 2024 – Analysis - IEA

     A ramping up of world oil production capacity, led by the...

2. www.reuters.com › markets › commoditiesOPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com › markets › commodities

   Oct 14, 2024 · On Monday, OPEC in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month.

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     Oil demand growth projected to slow down nearly 50% in 2024: IEA

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     Oil demand growth projected to slow down nearly 50% in 2024: IEA

     Jan 18, 2024

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     IEA Expects Global Oil Demand to Slow Down

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4. www.iea.org › reports › oil-market-report-september-2024Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org › reports › oil-market-report-september-2024

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   Sep 12, 2024 · The country’s oil demand is now set to expand by only 180 kb/d in 2024, as the broad-based economic slowdown and an accelerating substitution away from oil in favour of alternative fuels weigh on consumption.

5. www.iea.org › reports › oil-2024Executive summary – Oil 2024 – Analysis - IEA

   www.iea.org › reports › oil-2024

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   A ramping up of world oil production capacity, led by the United States and other producers in the Americas, is expected to outstrip demand growth over the 2023‑2030 forecast period and inflate the world’s spare capacity cushion to levels that are unprecedented, barring the Covid-19 period.

6. www2.deloitte.com › ca › enDeloitte Canada predicts weak oil and gas market in 2024, but ...

   www2.deloitte.com › ca › en

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   Jan 9, 2024 · Calgary, January 9, 2024 – Continuing cuts in crude oil supply by OPEC+ countries coupled with record-high production in the United States and expectations of softening demand growth have combined to push global oil prices to their lowest levels in more than two years, according to the latest forecast: New avenues opening for the chemical and ...

   • Email: kawatkins@deloitte.ca

   • Occupation: Manager, Public Relations

7. www.eia.gov › outlooks › steoShort-Term Energy Outlook - U.S. Energy Information ...

   www.eia.gov › outlooks › steo

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   Oct 3, 2024 · We forecast global petroleum consumption to increase by 1.4 million b/d in 2024 and 1.2 million b/d in 2025, both of which are slightly lower than the 10-year pre-pandemic average (2010–2019).

8. People also ask

   Will global oil demand increase in 2024?

   • For the year as a whole, global oil demand is on course to increase by 900 kb/d in 2024 and 950 kb/d next year. The recent slowdown in China has seen its oil consumption declining y-o-y for a fourth consecutive month in July, by 280 kb/d.

   Oil Market Report - September 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-september-2024

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   Will OPEC increase oil demand in 2024?

   • On Monday, OPEC in a monthly report said world oil demand will rise by 1.93 million barrels per day (bpd) in 2024, down from growth of 2.03 million bpd it expected last month. Until August, OPEC had kept the forecast unchanged since it was first made in July 2023. China accounted for the bulk of the 2024 downgrade.

   OPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com/markets/commodities/opec-cuts-2024-2025-global-oil-demand-growth-view-again-2024-10-14/

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   Why are global oil prices so low?

   • Continuing cuts in crude oil supply by OPEC+ countries coupled with record-high production in the United States and expectations of softening demand growth have combined to push global oil prices to their lowest levels in more than two years.

   Deloitte Canada predicts weak oil and gas market in 2024, but

   www2.deloitte.com/ca/en/pages/press-releases/articles/deloitte-canada-predicts-weak-oil-and-gas-market-in-2024-but-opportunities-will-persist.html

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   What is the outlook for crude oil prices in 2023?

   • Another supplement to the January STEO reviews the performance of our forecasts for these series during 2023. STEO Between the Lines: What is the outlook for crude oil prices in 2024 and 2025? We expect the Brent crude oil price will average $82 per barrel (b) in 2024 and $79/b in 2025, close to the 2023 average of $82/b.

   Short-Term Energy Outlook - U.S. Energy Information Administration (EI…

   www.eia.gov/outlooks/steo/report/BTL/2024/01-brentprice/article.php

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   What happened to global crude oil in 2024?

   • As a result, global crude run estimates are further reduced by 180 kb/d to 82.8 mb/d for 2024 and by 210 kb/d to 83.4 mb/d in 2025, representing annual gains of 540 kb/d and 610 kb/d, respectively. Observed global oil inventories declined by 22.3 mb in August, led by a 16.5 mb draw in crude oil stocks.

   Oil Market Report - October 2024 – Analysis - IEA

   www.iea.org/reports/oil-market-report-october-2024

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   Why did oil drop 2% in 2024?

   • Oil held an earlier decline of about 2% after the report was issued, with Brent crude trading below $78 a barrel. There is a wide split between forecasters on the strength of demand growth in 2024, partly due to differences over China and over the pace of the world's switch to cleaner fuels.

   OPEC cuts 2024, 2025 global oil demand growth view again

   www.reuters.com/markets/commodities/opec-cuts-2024-2025-global-oil-demand-growth-view-again-2024-10-14/

   See all results for this question

9. fortune.com › 2024/11/02 › oil-price-outlook-usOil price outlook: US pumps more crude as OPEC eyes more ...

   fortune.com › 2024/11/02 › oil-price-outlook-us

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   2 hours ago · It all combines to a weakening outlook for oil prices, which have already dropped roughly 12% in the past six months due to lackluster demand from China, the world’s biggest importer of crude.