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Jul 11, 2024 · 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. Output is forecast to rise by another 770 kb/d in 3Q24 with non-OPEC+ providing 600 kb/d of the gains.
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.
Apr 12, 2024 · For context, the additional volumes from the United States, Brazil, Guyana and Canada alone could come close to meeting world oil demand growth for this year and next. These four countries are set to once again produce at records-highs, adding a combined 1.2 mb/d in 2024 and 1 mb/d in 2025.
Jun 11, 2024 · U.S. oil output and global oil demand will likely post bigger records this year than previously expected, the U.S. Energy Information Administration said on Tuesday.
Mar 7, 2024 · After U.S. production surged by almost 1 million/bpd in 2023, the Energy Information Administration (EIA) is now forecasting U.S. growth for the year ahead to slow to a more modest 170k/bpd. This is happening at the same time that the U.S. is importing record quantities of Canadian oil.
Oct 12, 2023 · In 2024, Canada could be the largest source of growth in global crude oil production. The country's expected jump in oil output of about 500,000 bpd is higher than the 400,000 bpd projected...
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May 8, 2024 · Market Snapshot: Canada’s oil pipeline capacity in 2024. Release date: 2024-05-08. Crude oil production has been growing in western Canada, with Alberta hitting record-high production of 4.53 million barrels per day (MMb/d) in December 2023.
