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In 2022, oil demand growth is expected at 4.2 mb/dunchanged from last month , with OECD and non-OECD projected to grow by 1.8 mb/d and 2.3 mb/d, respectively.
In addition, more complete demand data for 1Q22, especially in the US, was sharply lower than preliminary estimates. As a result, global oil demand has been reduced by 260 kb/d for 2022 and is now forecast to average 99.4 mb/d, up by 1.9 mb/d from 2021.
Monthly Oil Market Report 2022. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market ...
- World oil demand is set to contract by 110 kb/d y-o-y in 4Q22, reaching 100.8 mb/d, up by 130 kb/d compared with last month’s Report. Strong gasoil use in key consuming countries outweighs weak European and Asian petrochemical deliveries.
- World oil supply fell 190 kb/d in November to 101.7 mb/d, breaking a five-month uptrend, after Saudi Arabia and other Gulf countries curbed supply in line with lower OPEC+ output targets.
- Global refinery throughputs surged 2.2 mb/d in November to the highest since January 2020, resulting in sharply lower diesel and gasoline cracks and refinery margins.
- Russian oil exports increased by 270 kb/d to 8.1 mb/d, the highest since April as diesel exports rose by 300 kb/d to 1.1 mb/d. Crude oil loadings were largely unchanged m-o-m, even as shipments to the EU fell by 430 kb/d to 1.1 mb/d.
AEO2022 examines a range of conditions from 2021 to 2050. Assumptions. Current laws and regulations as of November 2021. Current views on economic and demographic trends, and technology improvements. Compound annual growth rate for real U.S. gross domestic product (GDP) is 2.2% (Reference case)
2022 US Crude Oil Trading Calendar *Argus Media group. All rights reserved. The information above is provided on an “as is” basis. Argus makes no representations ...
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May 12, 2022 · For 2022, demand is expected to increase by 1.8 mb/d on average to 99.4 mb/d. Russia shut in nearly 1 mb/d in April, driving down world oil supply by 710 kb/d to 98.1 mb/d. Over time, steadily rising volumes from Middle East OPEC+ and the US along with a slowdown in demand growth is expected to fend off an acute supply deficit amid a worsening ...
