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114 million barrels a day
- 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. This would result in levels of spare capacity never seen before other than at the height of the Covid-19 lockdowns in 2020.
www.iea.org/news/slowing-demand-growth-and-surging-supply-put-global-oil-markets-on-course-for-major-surplus-this-decade
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Jun 12, 2024 · New IEA medium-term outlook sees comfortably supplied oil markets to 2030, though unwavering focus on energy security will remain crucial as powerful forces transform sector. Growth in the world’s demand for oil is expected to slow in the coming years as energy transitions advance.
Jun 12, 2024 · The International Energy Agency said Wednesday that the world's total oil supply capacity is expected to rise to about 114 million barrels a day by 2030, which the group said...
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 that are unprecedented, barring the Covid-19 period.
Jun 12, 2024 · The International Energy Agency said Wednesday that a U.S.-led surge in global oil production is expected to outstrip demand growth between now and the end of the decade, pushing spare capacity...
Jun 12, 2024 · The IEA stated on Wednesday that global oil demand is expected to reach its highest point by 2030 and start to decrease the following year. Additionally, the IEA projects that oil supply...
3 days ago · Demand for crude oil will hit a tipping point before 2030, leading to stiffer competition among producing countries and falling prices, the Paris-based agency said in its annual World Energy ...
Jun 12, 2024 · Despite the slowdown in growth, global oil demand is still forecast to be 3.2 MMbpd higher in 2030 than in 2023, unless stronger policy measures are implemented, or changes in behavior...
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