Iea crude oil supply and demand
Oil markets are going through a period of extraordinary change as the United States is increasingly leading the expansion of global oil supplies, and demand is shifting from developed economies and transportation fuels to Asia and petrochemicals. EIA forecasts OPEC crude oil production will average 29.2 million barrels per day (b/d) from April through December 2020, up from an average of 28.7 million b/d in the first quarter of 2020. EIA forecasts OPEC crude oil production will rise to an average of 29.4 million b/d in 2021. 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. The Paris-based IEA kept its 2019 forecast for global oil demand growth at 1.4 million barrels per day, unchanged from its projection last month, and said it expected growth of 1.3 million bpd 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 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.
15 Nov 2019 Non-OPEC supply growth estimate for 2020 raised by 100,000 B/D in first half. IEA Sees Global Oil Demand Hitting a Plateau Around 2030
20 Jan 2020 OPEC's supply-demand balances show that global oil stockpiles have fallen by 653 million barrels since the output cuts were introduced at the 16 Jan 2020 Global oil supply fell 780,000 bpd in Dec month on month due to Saudi cuts, seasonal decline of biofuels. Q4 2019 global refining runs fell 12 Dec 2019 Yesterday, WTI crude oil prices rose 0.8% despite bearish inventory data. Oil Market report highlighted that supply would exceed demand by 17 Jun 2019 The International Energy Agency (Iea) said Friday global crude oil supply in 2020 will be enough to meet any level of demand, Kallanish 25 Sep 2018 IEA 2018. Short term update: global oil supply reaches 100 mb/d in IEA 2018. Back to the medium term: robust demand growth of 1.2 mb/d. 16 Aug 2019 The IEA lowered oil demand growth for 2019 by 100,000 b/d to 1.1 The IEA highlighted that while global oil supply in July fell below year 3 Sep 2018 Global oil demand growth accounted for 80% ($35/b) of the cumulative price increase, followed by oil supply at 20% ($10/b). The net contribution of IEA expects 2018 to register another strong performance for global oil
In its latest Oil Market Report, the agency predicts that demand will grow by 1 million barrels per day (mb/d) in 2019 and 1.2 mb/d in 2020, both of which are downward revisions by 100,000 bpd
23 Feb 2016 Then global demand started sagging. And pretty soon, there was a supply glut — causing prices to crash. (I've simplified a bit, but the full story's
12 Dec 2019 Yesterday, WTI crude oil prices rose 0.8% despite bearish inventory data. Oil Market report highlighted that supply would exceed demand by
EIA forecasts OPEC crude oil production will average 29.2 million barrels per day (b/d) from April through December 2020, up from an average of 28.7 million b/d in the first quarter of 2020. EIA forecasts OPEC crude oil production will rise to an average of 29.4 million b/d in 2021. 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. The Paris-based IEA kept its 2019 forecast for global oil demand growth at 1.4 million barrels per day, unchanged from its projection last month, and said it expected growth of 1.3 million bpd 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 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. OPEC shaved 230,000 b/d off its 2020 world oil demand growth forecast. On stocks, the IEA said OECD industry inventories held largely steady in December at 2.91 billion barrels as a build in product inventories more than offset lower crude holdings. Total oil stocks stood 26.4 million above the five-year average and covered 61 days of forward demand. Besides lowering its demand outlook, stronger prices also prompted the IEA to increase estimates for supply from OPEC’s rivals, particularly the U.S. Production outside the Organization of Petroleum Exporting Countries will grow by 1.87 million barrels a day this year,
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
15 Nov 2019 The agency held its global economic growth estimates and its oil demand growth estimates for 2019 and 2020 in the report, a rarity in recent 15 Nov 2019 Non-OPEC supply growth estimate for 2020 raised by 100,000 B/D in first half. IEA Sees Global Oil Demand Hitting a Plateau Around 2030 12 Dec 2019 However, Q3 global oil demand was still up 0.90 mb/d YOY, which is the strongest annual growth in a year. ▫ Non-OPEC supply estimate for 2020 20 Jan 2020 OPEC's supply-demand balances show that global oil stockpiles have fallen by 653 million barrels since the output cuts were introduced at the
13 Feb 2020 Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA). the start of the year, stronger demand and a tailing off of non-OPEC supply growth. Annual Report · Joint IEA-IEF-OPEC Reports · OPEC, IEA, OECD, WB Joint Report The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for market trends in world oil demand, supply as well as the oil market balance. 16 Feb 2020 Global supply fell by 800,000 bpd in January to 100.5 million bpd (mbpd). The blockade in Libya has slashed its production, while the UAE saw a 15 Feb 2020 The IEA slashed its demand forecast for the first quarter of 2020, predicting Crude oil prices today - Oilprice.com The IEA said that the oil market was already heading into the first half of 2020 with a bit of a supply surplus. 15 Nov 2019 The agency held its global economic growth estimates and its oil demand growth estimates for 2019 and 2020 in the report, a rarity in recent 15 Nov 2019 Non-OPEC supply growth estimate for 2020 raised by 100,000 B/D in first half. IEA Sees Global Oil Demand Hitting a Plateau Around 2030 12 Dec 2019 However, Q3 global oil demand was still up 0.90 mb/d YOY, which is the strongest annual growth in a year. ▫ Non-OPEC supply estimate for 2020