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.

OECD oil demand for 4Q24 has been raised by 250 kb/d, underpinning a 90 kb/d upward adjustment to our global growth estimate for 2024. Oil demand trends in non-OECD …

Jun 14, 2023 · Growth in the world’s demand for oil is set to slow almost to a halt in the coming years, with the high prices and security of supply concerns highlighted by the global energy …

Jan 9, 2025 · Following some initial upward price pressure in early 2025, we expect that crude oil prices will generally decline from mid-2025 through the end of 2026 as growth in global oil …

Dec 12, 2024 · World oil demand growth is set to accelerate from 840 kb/d in 2024 to 1.1 mb/d next year, lifting consumption to 103.9 mb/d in 2025. Increases in both years will be dominated …

Jan 21, 2025 · We forecast benchmark Brent crude oil prices will fall from an average of $81 per barrel (b) in 2024 to $74/b in 2025 and $66/b in 2026, as strong global growth in production of …

• Demand plateaus around 106 mb/d after 2027, peaks in 2029 followed by small 2030 decline. • Petrochemicals and non-OECD Asian economies to dominate gains. • US-led supply capacity …

Jan 17, 2025 · Benchmark Brent crude oil prices averaged $81 per barrel (b) in 2024, in line with the $82/b for the year that we had forecast in our January 2024 Short-Term Energy Outlook …

Oil demand sees robust medium-term growth and reaches over 120 mb/d by 2050, driven by the non-OECD. Global oil demand is projected to reach 112.3 million barrels a day (mb/d) in 2029, …

Dec 14, 2023 · World oil demand will rise faster than expected next year, the International Energy Agency (IEA) said on Thursday, a sign that the outlook for near-term oil use remains robust …