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May 22, 2024 · In 2023, world oil demand exceeded 100 million bbl/d for the first time since the pandemic. Forecasts suggest global oil demand will grow even more in 2024.
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
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.
Growth in oil demand since 2019 – which has averaged around 0.5 Mb/d per year – has been largely driven by increasing consumption in emerging economies and increased demand for petrochemical feedstocks. Oil consumption in developed economies continued to fall over much of the past two decades. In 2022 oil demand in developed
Global energy demand is estimated to have fallen by 4.5% in 2020. This is the largest recession since the end of World War II, driven by an unprecedented collapse in oil demand, as the imposition of lockdowns
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Jun 12, 2024 · The report provides detailed analysis and forecasts of oil demand fundamentals across fuels, sectors and regions. It also outlines projected supply from planned upstream and downstream projects around the world.
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Sep 5, 2024 · We forecast that global consumption of liquid fuels will increase by 0.9 million b/d in 2024 and 1.5 million b/d in 2025. Our 2024 forecast is down 0.2 million b/d from last month and our 2025 forecast is down 0.1 million b/d due to downward revisions to demand in China and OECD Europe.
