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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.
Jun 12, 2024 · The International Energy Agency said Wednesday that the world's total oil supply capacity is expected to rise to about 114 million barrels a day by 2030, which the group said would...
Jun 12, 2024 · The world faces a “staggering” surplus of oil equating to millions of barrels a day by the end of the decade, as oil companies increase production, undermining the ability of Opec+ to manage...
Jun 19, 2024 · Global oil demand in 2023 was around 5 million BPD higher than it was in 2016 when Bloomberg made the prediction, and as we know oil prices in 2023 certainly didn’t signal an oversupply....
Jun 14, 2023 · Growth in the world’s demand for oil is set to slow almost to a halt in the coming years, with the high prices and security of supply concerns highlighted by the global energy crisis hastening the shift towards cleaner energy technologies, according to a new IEA report released today.
Two years ago, lockdowns imposed in response to the Covid-19 pandemic caused a huge oversupply of oil, leading prices to collapse to an average of USD 44/barrel. Today, global supply is struggling to keep pace with demand, with many producers bumping up against capacity constraints and Russia’s invasion of Ukraine sharply accentuating market ...
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Jun 12, 2024 · Total supply capacity is forecast to rise to nearly 114 MMbpd by 2030—a staggering 8 MMbpd above projected global demand, the report finds. This would result in levels of spare capacity never...
