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Mar 9, 2020 · Following a contraction in 2020 and an expected sharp rebound in 2021, global oil demand growth is set to weaken as consumption of transport fuels increases more slowly. Between 2019 and 2025, global oil demand is forecast to grow at an average annual rate of just below 1 mb/d.
- Slowing demand growth and surging supply put global oil ...
In parallel, a surge in global oil production capacity, led...
- Growth in global oil demand is set to slow significantly by 2028
The Oil 2023 medium-term market report forecasts that based...
- Slowing demand growth and surging supply put global oil ...
Jun 12, 2024 · In parallel, a surge in global oil production capacity, led by the United States and other producers in the Americas, is expected to outstrip demand growth between now and 2030. Total supply capacity is forecast to rise to nearly 114 million barrels a day by 2030 – a staggering 8 million barrels per day above projected global demand, the report finds.
Jun 14, 2023 · The Oil 2023 medium-term market report forecasts that based on current government policies and market trends, global oil demand will rise by 6% between 2022 and 2028 to reach 105.7 million barrels per day (mb/d) – supported by robust demand from the petrochemical and aviation sectors. Despite this cumulative increase, annual demand growth is expected to shrivel from 2.4 mb/d this year to ...
- Recap 2020
- Short-Term Up to 2025
- Long-Term Up to 2040
Demand has partially recoveredsince April 2020 but still ended the year approximately 9 million barrels per day (MMb/d) below the 2019 level, with continued COVID-19-related lockdown measures in January 2021 keeping it around 6 MMb/d lower than January 2019. Supply remained robust until April 2020 and then dropped by 13 to 14 MMb/d in May, driven b...
Oil demand is expected to return to 2019 levels by late 2021 to early 2022, depending on the duration of lockdowns and the pace of GDP recovery. Based on our Global Energy Perspectivereference-case demand insights, current OPEC+ intervention will be sufficient to help balance the market in 2021, with prices remaining at a sustained level of $50 to ...
Long-term equilibrium oil prices have decreased by $10 to $15/bbl compared with pre-COVID-19 outlooks, as driven by a flattening cost curve and lower demand. Under an OPEC-control scenario, in which OPEC maintains its market share, we see a $50 to $60/bbl equilibrium price range in the long term, fueling 10 to 11 MMb/d US shale oil and 11 to 13 MMb...
Feb 9, 2020 · stable growth of more than 1 percent per year, oil-demand growth slows in the late 2020s and peaks in 2029. Various energy-transition drivers could cause peak to occur six to ten years earlier By 2040, exploration and production companies need to add 38 MMb/d of new crude production from unsanctioned projects to meet demand. Most new
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Sep 28, 2021 · The growth will be frontloaded in the first five years, when oil demand will rise 2.6 million b/d annually to 103.6 million b/d in 2025, surpassing pre-pandemic levels, before slowing to 600,000 b/d from 2025-2030 and then 300,000 b/d from 2030-2035.
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Mar 13, 2020 · The Oil Price Shock (s) of 2020. COVID-19 has created a demand shock in the oil market as social distancing reduces movement and daily travel for more and more of us each day. At present, most of the reporting agencies expect oil demand growth this year to be largely flat, well below the 1.2 million barrels/day (mmb/d) expected just a few ...
