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- Global oil demand is forecast to rise by a higher-than-expected 1.7 mb/d in 1Q24 on an improved outlook for the United States and increased bunkering.
www.iea.org/reports/oil-market-report-march-2024
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Will world oil demand grow in 2024?
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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.
World oil demand growth expectations for the 2024 and 2025 are largely unchanged at 970 kb/d and 980 kb/d, respectively. At the same time, global oil supply trended higher, with 2Q24 production up 910 kb/d from 1Q24, led by the United States.
5 days ago · The Organization of the Petroleum Exporting Countries, in its 2024 World Oil Outlook published on Tuesday, sees demand growing for a longer period than other forecasters like BP , opens new tab ...
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.
Sep 5, 2024 · We estimate that global oil inventories will increase by an average of 0.5 million b/d in the second half of 2025 (2H25). We forecast the Brent price will average $84/b in 2025. Recent production outages in Libya add a new source of uncertainty for crude oil prices in the coming months.
Dec 14, 2023 · World consumption will rise by 1.1 million barrels per day (bpd) in 2024, the Paris-based IEA said in a monthly report, up 130,000 bpd from its previous forecast, citing an improvement in...
Jun 11, 2024 · World crude oil and liquid fuels consumption is expected to rise by 1.1 million bpd to 103 million bpd this year, the EIA said. That compares with a previous forecast of around 102.8 million...
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related to: will world oil demand grow in 2024 united statesWe're Committed To Responsibly Meeting The World's Energy Needs. Explore Our Key Topics. Advancing Lower-Emission Energy Solutions Through Science & Technology.
Predict future oil and gas production using data from offset wells with Auto-Proximity. Forecast in a Matter of Minutes
