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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.
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.
Apr 12, 2024 · For 2024, global output is forecast to rise by 770 kb/d to 102.9 mb/d. Non-OPEC+ production will expand by 1.6 mb/d, while OPEC+ supply could fall 820 kb/d if voluntary cuts remain in place. In 2025, global growth could rise to 1.6 mb/d.
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.
This is one of the key focuses of each monthly report. For example: In this chart, we subtract oil consumption in 2023 from the consumption estimate for 2024. Comparing how the yearly change evolves from one month to the next, we can instantly grasp how demand is changing in the oil market.
Jun 11, 2024 · The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025.
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Will world oil demand grow in 2024?
Will world oil production outstrip demand growth in 2023-2030?
How will oil supply change in 2024 & 2025?
Will non-OPEC+ oil demand increase in 2023?
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
