Iea global oil supply and demand
Oil supply and demand in 2019. The IEA says the picture of oil supply and demand will continue to evolve over the remainder of 2019, but as it stands concerns abound for any in the business of market management. As recently as January last year, experts were predicted a decade’s worth of exponential growth in oil demand. IEA keeps its 2020 oil demand growth forecast. Global oil supply tumbled 780,000 b/d in December 2019 as biofuels production declined seasonally and Saudi Arabia reduced output, according to the In its closely watched oil-market report, the IEA downgraded its forecast for global oil demand for a second straight month, to 1.2 million barrels a day from 1.3 million barrels a day the The IEA's August update on the state of the oil markets said global demand in 2017 would slow to 1.2 million barrels a day from the 1.3 million previously expected. Global oil demand growth in 2019 was also trimmed by 80,000 b/d to 885,000 b/d, the IEA said, on lower-than-expected consumption in the OECD. OPEC UNDER PRESSURE Before the virus outbreak last month, the IEA had been predicting a major supply surplus in the first half of 2020, driven by rising non-OPEC oil supply. The International Energy Agency (IEA) cut its oil demand forecast yet again, citing the weakening global economy. In its latest Oil Market Report, the agency predicts that demand will grow by 1 The IEA said oil prices, which briefly touched a high of $71 a barrel in January, could be supported even if U.S. production rises, provided global growth remains strong, or if unplanned supply
EIA expects inventory builds will be largest in the first half of 2020, rising at a rate of 1.7 million b/d because of slow oil demand growth. Firmer demand growth as the global economy strengthens and slower supply growth will contribute to balanced markets in the fourth quarter of 2020 and global oil inventory draws in 2021.
IEA: Global oil supply will outpace demand throughout 2019 Global oil supply will outpace demand throughout 2019, the International Energy Agency forecasted in its latest Oil Market Report. The International Energy Agency (IEA) cut its oil demand forecast yet again, citing the weakening global economy. In its latest Oil Market Report, the agency predicts that demand will grow by 1 Oil 2019, the annual IEA outlook for global oil markets, examines the key issues in demand, supply, refining and trade to 2024. EIA expects inventory builds will be largest in the first half of 2020, rising at a rate of 1.7 million b/d because of slow oil demand growth. Firmer demand growth as the global economy strengthens and slower supply growth will contribute to balanced markets in the fourth quarter of 2020 and global oil inventory draws in 2021.
16 Jan 2020 Global oil supply tumbled 780000 b/d in December 2019 as biofuels production declined seasonally and Saudi Arabia reduced output,
1 Jan 2020 Global oil supply tumbled 780 kb/d in December as biofuels production Our global demand growth forecasts for 2019 and 2020 remain Global oil demand has been hit hard by the novel coronavirus (Covid-19) and the widespread Global oil supply slumped by 0.8 mb/d in January to 100.5 mb/d. 6 Dec 2019 For 2019 and 2020 we have left unchanged our global oil demand in our forecast of 2020 non-OPEC supply growth to 2.1 mb/d, global oil
Global oil markets are tightening as OPEC supply falls, the International Energy Agency said, while warning it could lower demand forecasts because of economic threats.
Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of The IEA cut its oil demand growth estimate for 2019 by 90,000 bpd to 1.3 million bpd. The report also revealed a global supply drop in April of 300,000 bpd, led by Iran, Azerbaijan, Kazakhstan and Canada. Non-OPEC supply is forecast to grow 1.9 million bpd versus 2.8 million bpd last year. Since its inception in 1983, the IEA's Oil Market Report (OMR) has become recognised as one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for OECD and selected non-OECD countries. The IEA raised its estimate of growth in crude supply from outside the Organization of the Petroleum Exporting Countries to 1.8 million bpd in 2019, from 1.6 million bpd previously. The agency also lowered its forecast for demand for OPEC crude, IEA reduces 2020 global oil demand growth forecast to 825,000 b/d. Global oil demand has been hit hard by the coronavirus and the widespread shutdown of China’s economy. Demand is now expected IEA: Global oil supply will outpace demand throughout 2019 Global oil supply will outpace demand throughout 2019, the International Energy Agency forecasted in its latest Oil Market Report. The International Energy Agency (IEA) cut its oil demand forecast yet again, citing the weakening global economy. In its latest Oil Market Report, the agency predicts that demand will grow by 1
17 Jun 2019 IEA also said OPEC crude supply fell in May to its lowest level since 2014 as a result of US sanctions on Iran and Venezuela, the output cut
11 Mar 2019 The IEA predicts the United States will drive global oil supply growth While global oil demand growth is predicted to ease, in particular as 16 Nov 2016 The International Energy Agency expects global oil consumption to peak no sooner than 2040, leaving its long-term forecasts for supply and 13 Feb 2019 The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with production cuts and U.S.
In its closely watched oil-market report, the IEA downgraded its forecast for global oil demand for a second straight month, to 1.2 million barrels a day from 1.3 million barrels a day the The IEA's August update on the state of the oil markets said global demand in 2017 would slow to 1.2 million barrels a day from the 1.3 million previously expected. Global oil demand growth in 2019 was also trimmed by 80,000 b/d to 885,000 b/d, the IEA said, on lower-than-expected consumption in the OECD. OPEC UNDER PRESSURE Before the virus outbreak last month, the IEA had been predicting a major supply surplus in the first half of 2020, driven by rising non-OPEC oil supply.