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1.6-million-bpd
- After three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end of the year, the International Energy Agency (IEA) said on Tuesday.
oilprice.com/Energy/Crude-Oil/IEA-Sees-Robust-Oil-Demand-In-October.html
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Oct 15, 2024 · Global oil demand is expected to grow by just under 900 kb/d in 2024 and by around 1 mb/d in 2025, significantly lower than the 2 mb/d seen in 2023. Chinese oil demand is particularly weak, with consumption dropping by 500 kb/d y-o-y in August – its fourth consecutive month of declines.
- Oil Market Report - October 2022 – Analysis - IEA
World oil demand is now forecast to average 101.3 mb/d in...
- Oil Market Report - October 2022 – Analysis - IEA
Oct 14, 2021 · All in all, world oil demand is forecast to rise by 5.5 mb/d, to 96.3 mb/d in 2021 and 3.3 mb/d in 2022, when it is set to reach pre-Covid levels. World oil supply, meanwhile, is projected to rise sharply in October as US output bounces back from Hurricane Ida and OPEC+ continues to unwind cuts.
- The relentless deterioration of the economy and higher prices sparked by an OPEC+ plan to cut supply are slowing world oil demand, which is now expected to contract by 340 kb/d y-o-y in 4Q22.
- World oil supply rose by 300 kb/d in September to 101.2 mb/d, with OPEC+ providing over 85% of the gains. After a massive 2.1 mb/d boost from 2Q22 to 3Q22, growth is forecast to decelerate markedly, to 170 kb/d from 3Q22 to 4Q22, following the OPEC+ decision to cut official production targets by 2 mb/d from November – a 1 mb/d cut to actual output given the bloc’s underperformance vis-à-vis quotas.
- Global refining activity is responding to the slowdown in demand and lower refinery margins, with 3Q22 runs coming in lower than expected. Our forecasts for 4Q22 and 2023 have been revised down by 340 kb/d and 720 kb/d, respectively, following demand downgrades and OPEC+ production cuts.
- Russian oil exports fell by 230 kb/d to 7.5 mb/d in September, down 560 kb/d from pre-war levels. Shipments to the EU dropped by 390 kb/d m-o-m. With less than two months to go before a ban on Russian crude oil imports comes into effect, EU countries have yet to diversify more than half of their pre-war import levels away from Russia.
2 days ago · NEW YORK, Oct 30 (Reuters) - Oil prices rebounded on Wednesday, rising more than 2% after data showed U.S. crude and gasoline inventories fell unexpectedly last week and on reports that OPEC+ may ...
Jan 4, 2022 · The spot price of Brent crude oil, a global benchmark, started the year at $50 per barrel (b) and increased to a high of $86/b in late October before declining in the final weeks of the year. Brent’s 2021 annual average of $71/b is the highest in the past three years.
Sep 14, 2021 · After three consecutive months of declines due to the Delta variant, global oil demand is set to rebound with a 1.6-million-bpd jump in October and continue rising through the end of the...
Nov 2, 2021 · Crude oil prices increased sharply in 2021Q3 and continued rising in October, driven by increased demand, weather-related supply disruptions, and restrained production by OPEC and its partners (OPEC+).
