OPEC and the Energy Information Administration (EIA) have released forecasts regarding world oil demand growth. OPEC maintains its growth forecasts for 2024 and 2025 but trims the first-quarter view. The EIA raises its forecast for 2024 and 2025 world oil demand, with the US expected to see increased crude oil output. The IEA predicts a peak in global oil demand by 2029, leading to a major surplus in oil supply by 2030.
Earth to Birol--there's a big problem with your STAGGERING GLUT forecast IEA expects world oil supply-demand balance to exceed 6 mmb/d 2029-2030 OPEC and EIA expect supply and demand to be near balance after 2025 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC… https://t.co/zPzMZUPqzc
Since every projection depends on its ASSUMPTIONS, there is nothing wrong with IEA projections that global oil demand will peak in 2029! Those ASSUMPTIONS reminded me of this.. take your pick! #Oil #IEA https://t.co/f1VHoOmaRP
Fossil fuel growth surges ahead. Emissions are never going down. Net zero by any date is dead: The US Energy Information Administration (EIA) raised its 2024 global oil demand growth forecast to 1.1 million barrels per day, up from its previous estimate of 900,000 bpd. This… https://t.co/mUWcoHkvsq
Fatih Birol's "Staggering Glut" vs The IEA Data Total oil demand wil increase through 2029 IEA expects gasoline demand to decrease -1.6 mmb/d by 2030 #energy #OOTT #oilandgas #WTI #CrudeOil #fintwit #OPEC #commodities https://t.co/71TLr6ITQv
We’ll soon live in a world with a "staggering" excess of oil that we can’t fully use, global energy watchdog IEA warns. https://t.co/dITgWkvS4r
Will The World Have A Staggering Excess Of Oil By 2030? https://t.co/YHfajWH1TC
We’ll soon live in a world with a ‘staggering’ excess of oil that we can’t fully use, global ener... https://t.co/YtXEc60FMl
OPEC disagrees with IEA prediction of peak oil demand by 2030: - Cites IEA patchy record in forecasting peak demand in gasoline & coal - Says latest prediction is a continuation of IEA anti-oil narrative - Sees global consumption rising to mid-century https://t.co/2edJ43GARE
Global oil markets face a 'major' surplus this decade as the shift away from fossil fuels causes demand to hit a plateau amid plentiful supply growth https://t.co/IKDp1R776v
#OPEC does not see a peak in #oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general says. https://t.co/4LOUcgcW0j
Global oil markets are headed toward a major glut this decade, the International Energy Agency said https://t.co/MnBrykTzG7 via @WSJ
The IEA projects that global oil demand is going to peak by 2029, but US & OPEC countries are going to continue to produce oil, so there's going to be a huge glut. Needless to say, having an enormous glut of cheap oil is going to slow the transition. https://t.co/e1nYhlYrvF
The IEA's announcement Wednesday forecasts the global oil supply capacity rising to approximately 114 million barrels per day by 2030. https://t.co/yeh922bAhv
Death, taxes, and IEA being wrong about global oil demand.
"Global oil markets face a 'major' surplus this decade as the shift away from fossil fuels causes demand to hit a plateau amid plentiful supply growth." @markets https://t.co/H4XC8sbpXL
EIA states that US is continuing to take oil production market share, raising its 2024 estimate of production to 13.24 million bpd #oott $USO $UCO $BNO
#OPEC sees no peak oil demand long term, secretary general says #oott https://t.co/DSe5w2oDXZ
OPEC says it doesn’t see a peak in oil demand in long-term forecast https://t.co/ZhNIkiYh5p
Thanks to the inexorable growth of EVs & improved efficiency, the @IEA's latest medium-term outlook expects GLOBAL DEMAND FOR OIL TO PEAK IN 2029 (at ~4% above 2023 demand), leading to a "major surplus" in global oil supply. https://t.co/a4axrWS9Bh
I'm happy to bet that both IEA and OPEC are wrong: Oil demand will grow beyond 2029 (contradicting IEA's forecast) But oil demand will peak before 2050 (contradicting OPEC's forecast) (The debate is a bit meaningless: more interesting is the shape of the curve post peak)
Peak oil demand not on the horizon NEW #OPEC SG article ➡️ https://t.co/LYampYMmBQ
The World Will Be Swimming in Excess Oil by End of This Decade, IEA Says. (Brazil & Guyana fyi) https://t.co/vEnCvQ2jv8
A warning to oil producers, from the IEA: • It predicts global oil demand will peak in 2029 • At 106 mn barrels/day • Supply to outgrow consumption • Capacity to exceed demand by 8 mn barrels/day by 2030 The surplus will weigh on prices https://t.co/MiRJsTqlI6
The world could have a glut of oil by the end of the decade because of rising production combined with declining demand as consumers and businesses switch to electric vehicles and renewable energy, according to a new report. https://t.co/7JRb0fd45d
World will amass 'major' oil surplus by 2030, says #IEA https://t.co/ayBw8azgGg
"Global oil markets are headed toward a major glut this decade, a global energy watchdog [IEA] forecast, citing surging supplies and slowing demand growth for crude thanks to lower-emissions energy sources." Seems overly bearish? https://t.co/8PSm0CBkHG by @GiuliaPetroni
IEA has become a dishonest broker. “IEA has been steadily revising down oil demand growth for 2024 and 2025. But then total demand stays the same because it is revising higher 2023 oil demand. “At some point, you just have to believe IEA is full of shit.” https://t.co/UFX7UNjS0r
Energy watchdog predicts 'staggering' oil glut by 2030 https://t.co/5PvjmQOobl
The IEA warns that the world will have 8mn b/d excess oil 🛢 capacity by 2030 which would limit OPEC's ability to manage the market. https://t.co/S0rvLCvgEk
Honestly, I don't know what's more ridiculous at this point. IEA has been steadily revising down oil demand growth for 2024 and 2025. But then total demand stays the same because it is revising higher 2023 oil demand. At some point, you just have to believe IEA is full of shit.
The world will have a major surplus of oil by the end of the decade, thanks in large part to production in the U.S. and the wider Americas https://t.co/R4n9o7n7DI
“I see no evidence of this imminent peak demand,” says @RapidanEnergy’s @Bob_McNally on the @IEA’s forecast that oil production will exceed demand by 2030. “If they’re right OPEC+ is still going to want to keep oil prices stable.” https://t.co/WqlWdJiFGl
IEA Sees Massive Oil Supply Glut At The End Of This Decade https://t.co/mjeF3XzrXO
"@IEA said the world was at “the beginning of the end” of the fossil fuel era. It has said demand for oil, natural gas & coal will all start to fall before the end of the decade amid the mass rollout of renewables & EVs" World faces staggering oil surplus https://t.co/kxTxaM5Ewp
World faces ‘staggering’ oil glut by end of decade, energy watchdog warns https://t.co/KP81YEO8bJ https://t.co/bYvqzXzj8v
World faces 'staggering' oil glut by end of decade, energy watchdog warns https://t.co/TSgMJMJ5Em
Oil prices could be in for some tough times 🚨 The IEA warns that the world will have 8mn b/d excess oil capacity by 2030 which would limit OPEC's ability to manage the market. https://t.co/sqiRbZvNWX
Oil production capacity, led by the US and other producers in the Americas, will outstrip demand growth between now and 2030. Total supply capacity will rise to 114 million bpd by 2030 – a staggering 8 million bpd above projected global demand. https://t.co/URNoi6CcVn
The world will soon have more oil than it knows what to do with, according to a new report. Demand will slow and supply will grow through 2030, largely due to increases in clean energy, the International Energy Agency said. https://t.co/djt83zm0DE
IEA oil market report: Something which went unnoticed, demand level upward revisions 2022 is now at 100.11 from 99.81mbpd one month ago 2023 is at 102.24 from 102.09mbpd one month ago 2024 is at 103.20 from 103.16mbpd one month #oott
“While demand is forecast to peak before 2030, continued investment by oil producers, led by the US, would by then result in more than 8mn b/d of spare capacity, the IEA wrote in its annual report on the industry released on Wednesday.” @FT https://t.co/nilWIxwCOe
This is getting a bit silly!! With half the year gone, the gap between OPEC and IEA's forecast for 2024 #crudeoil demand growth continues to widen, now at 1.2m b/d #oott https://t.co/fCBbBF49jb
This is getting a bit silly!! With half the year gone, the gap between OPEC and IEA's forecast for 2024 #crudeoil demand continues to widen, now at 1.2m b/d #oott https://t.co/ONP4ZZaARx
Global oil markets are headed toward a major glut this decade, a global energy watchdog forecast, citing surging supplies and slowing demand growth for crude thanks to lower-emissions energy sources https://t.co/Z3iJIMdSOd https://t.co/Z3iJIMdSOd
Peak oil demand before 2030 will usher in a major supply glut, the International Energy Agency says https://t.co/utYblUD4O9
Oil demand growth is set to slow in the coming years and global demand will peak in 2029, while rising production will lead to a major glut this decade, the International Energy Agency (IEA) said in its new medium-term oil outlook on Wednesday. https://t.co/AqOIlM3xkC
Oil demand set to peak by 2029, major supply glut looms, agency says https://t.co/rhLUakv6jz
The World Will Be Swimming in Excess Oil by End of This Decade, IEA Says https://t.co/xUl9gMtNjW
IEA says peaking oil demand creates an amount of global excess oil production capacity only seen in 2020 Pandemic. World will run out of oil demand before oil supply. Big Oil given stark warning as peak crude and a major supply surplus expected by 2030 https://t.co/aAjeogrC1b
The IEA is often wrong, but never in doubt. Global oil demand will continue to rise for years to come, as emerging market per capita oil consumption rises towards Western consumption levels. https://t.co/NJv6pxGQ0s
Slowing demand growth and surging supply put global oil markets on course for major surplus this decade - News - @IEA https://t.co/eQELNDF1F1
Demand for oil will peak in 2029, International Energy Agency says https://t.co/CnhsSM70GF https://t.co/vEKXaRFRnq
The World Will Be Swimming in Excess Oil by End of This Decade, IEA Says - WSJ https://t.co/wbi2NDLOvI
Global oil demand set to peak by 2029, major supply glut looms: IEA https://t.co/QIlbdJmw21
The world is likely to have a “major surplus” of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency (#IEA) says in an annual report. https://t.co/16JjZsZBqo
We reiterate our view that global oil demand will grow by 1.48 mb/d in 2024! Looking at IEA's report: It is funny how slow economic growth affect oil only! https://t.co/4QlmQF543T
World faces ‘staggering’ oil glut by end of the decade, energy watchdog warns via @FT https://t.co/AzAluiE0I2
‘Staggering’ global oil surplus expected by 2030 https://t.co/1RB7NoQ4Iw
IEA forecasting oil demand to plateau by 2030? It’s a 🔐. We are going to be way past 105 million b/d. Golden rule of energy investing: ALWAYS fade the IEA. Always.
Without saying who is right, IEA chief Fatih Birol says the 1.2m bpd gap between their predictions and Opec for oil demand growth is "noteworthy". "We are in the middle of the year, six months have passed. We will see at the end of the year what the numbers will be," he said.
📉 OIL DEMAND SET TO PEAK BY 2029, MAJOR SUPPLY GLUT LOOMS, IEA SAYS (Reuters) -Global oil demand will peak by 2029 and begin to contract the next year, the International Energy Agency said on Wednesday, while oil supply capacity is due to vastly outpace demand by the end of the… https://t.co/vk4SZEp2ml
The world is likely to have a major surplus of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency said Wednesday. https://t.co/R2m8uDFmlE
Global oil markets face a “major” surplus this decade as the shift away from fossil fuels causes demand to peak, the International Energy Agency says https://t.co/NywzZgENvK
NEW: IEA sees ‘major’ oil supply surplus emerging by 2030 https://t.co/Tp2FR35xcA
IEA sees ‘major’ oil supply surplus emerging by 2030 #ARYNews https://t.co/KSjUxmgl5k
World will amass ‘major’ oil surplus by 2030: IEA https://t.co/B8XNmQY1aI
#IEA lowers 2024 global demand growth forecast by 100,000 bpd to 960,000 bpd #OIL #OOTT https://t.co/t3xxCovIFT
#IEA lowers global oil demand growth projection for the year The energy watchdog continues to maintain that supply is due to outpace demand in the longer-term 2024 global oil demand growth forecast lowered by 100k to 960k bpd #OIL #OOTT
🛢️ IEA Oil Market Report: 🔹 Lowers 2024 demand growth forecast by 100k BPD to 960k BPD 🔹 2025 oil demand growth seen at 1mln BPD amid a muted economy and clean energy tech deployment 🔹 Major oil surplus seen this decade as demand peaks - @newsquawk #OOTT https://t.co/N0VA0SV5hx
Oil 2024 is out now 🚨 It sees growth in global oil demand levelling off this decade as energy transitions advance & major economic shifts take hold. At the same time, supply is set to surge. Read more on the implications for markets worldwide 👇 https://t.co/w3isyyRBWK
Global Oil Markets to Tip Into Surplus by End of Decade, IEA Says https://t.co/l6q2ksMnvW
Breaking news: The International Energy Agency has warned that the world faces a 'staggering' surplus of oil equating to millions of barrels a day by the end of the decade https://t.co/Kd9LulXE7U https://t.co/ztVuYi8Zr9
OIL MARKET: @IEA releases its 5-year oil outlook, forecasting that global demand would plateau in 2029-30 at ~105 million b/d. It sees a major surplus from 2026 onward as it predicts that supply would growth quicker than demand | #OOTT Full report: https://t.co/PJOhytBXLe https://t.co/0OUweJFjvb
Oil demand set to peak by 2029, major supply glut looms, IEA says https://t.co/FoCKYW09aR https://t.co/jRIRibsnXc
Big Oil warned by IEA that peak crude and a major supply surplus are on the horizon https://t.co/Asa4XJRYhG
IEA SAYS THAT BY 2030 OIL SUPPLY CAPACITY WILL RISE TO NEARLY 114 MLN BPD OR 8 MLN BPD ABOVE GLOBAL DEMAND
IEA SAYS GLOBAL OIL DEMAND SET TO PEAK BY 2029 AT 105.6 MLN BPD AND CONTRACT NARROWLY IN 2030
IEA SAYS GLOBAL OIL DEMAND WILL RISE TO NEARLY 106 MLN BPD TOWARD END OF DECADE FROM AROUND 102 MLN BPD IN 2023
IEA SAYS OIL DEMAND IN ADVANCED ECONOMIES WILL FALL TO LESS THAN 43 MLN BPD BY 2030 FROM CLOSE TO 46 MLN BPD IN 2023
IEA SEES 2025 OIL DEMAND GROWTH AT 1 MLN BPD AMID A MUTED ECONOMY AND CLEAN ENERGY TECHNOLOGY DEPLOYMENT
IEA: MAJOR OIL SURPLUS SEEN THIS DECADE AS DEMAND PEAKS.
IEA: GLOBAL OIL DEMAND IS SET TO PEAK BY 2029 AT 105.6 MLN BPD AND CONTRACT NARROWLY IN 2030.
⚠️ IEA SEES 2025 OIL DEMAND GROWTH AT 1 MLN BPD AMID A MUTED ECONOMY AND CLEAN ENERGY TECHNOLOGY DEPLOYMENT **IEA LOWERS 2024 DEMAND GROWTH FORECAST BY 100,000 BPD TO 960,000 BPD **IEA SAYS NON-OPEC+ PRODUCERS LED BY UNITED STATES WILL MAKE UP THREE-QUARTERS OF PRODUCTION…
IEA: BY 2030, OIL SUPPLY CAPACITY WILL RISE TO NEARLY 114 MLN BPD OR 8 MLN BPD ABOVE GLOBAL DEMAND.
IEA SEES 2025 OIL DEMAND GROWTH AT 1 MLN BPD AMID A MUTED ECONOMY AND CLEAN ENERGY TECHNOLOGY DEPLOYMENT.
IEA LOWERS 2024 DEMAND GROWTH FORECAST BY 100,000 BPD TO 960,000 BPD.
World faces ‘staggering’ oil glut by end of the decade, IEA warns https://t.co/QbPaDZDU3e
IEA: OIL DEMAND IN ADVANCED ECONOMIES WILL FALL TO LESS THAN 43 MLN BPD BY 2030 FROM CLOSE TO 46 MLN BPD IN 2023.
*MAJOR OIL SURPLUS SEEN THIS DECADE AS DEMAND PEAKS, IEA SAYS 'Major' sounds big... got 6 years to get there though - more to this headline it seems
IEA: GLOBAL OIL DEMAND WILL RISE TO NEARLY 106 MLN BPD TOWARD END OF DECADE FROM AROUND 102 MLN BPD IN 2023.
OPEC sticks to 2024 oil demand growth forecast but trims Q1 view https://t.co/3IhPzTDIAI https://t.co/zHG6HLrxkq
The Energy Information Administration (EIA) has revised up global oil demand growth for 2024 to 1.10 million barrels per day, with a forecasted increase of 180,000 barrels per day.
EIA forecasts Brent crude oil prices to USD 84.15bbl (was 87.79) in 2024 and at USD 85.38/bbl (unchanged) in 2025. #oott
⚠️ EIA NOW EXPECTS WORLD CRUDE OIL AND LIQUID FUELS CONSUMPTION TO GROW BY 1.1 MLN BPD IN 2024 (VS PREVIOUS FORECAST OF 900,000 BPD GROWTH) **EIA NOW EXPECTS WORLD CRUDE OIL AND LIQUID FUELS CONSUMPTION TO GROW BY 1.5 MLN BPD IN 2025 (SAME AS PREVIOUS GROWTH FORECAST) **EIA…
EIA projects that US crude production rose by 50kbpd m/m to 13.20mbpd in April (May previously estimated at 13.09, April estimate raised from 12.13 to 13.15), June estimated at 13.17). Dec24 projected at 13.55mbpd (was 13.58) and Dec25 at 13.92mbpd (was 13.91). #oott
⚠️ EIA NOW EXPECTS WORLD CRUDE AND LIQUID FUELS OUTPUT TO GROW BY 2.1 MLN BPD IN 2025 (VS PREVIOUS FORECAST OF 1.9 MLN BPD GROWTH)
⚠️ EIA EXPECTS WORLD CRUDE OIL AND LIQUID FUELS OUTPUT TO RISE BY 800,000 BPD IN 2024 (VS PREVIOUS FORECAST OF 1 MLN BPD INCREASE)
EIA raised its 2023 non-OPEC supply growth estimate to +2.56mbpd (was +2.55), raised its 2024 estimate to +0.94mbpd (was +0.92) and raised the 2025 estimate to +1.74mbpd (was 1.71) #oott
⚠️ EIA NOW EXPECTS US PETROLEUM AND OTHER LIQUIDS CONSUMPTION GROWTH OF 300,000 BPD IN 2025 (VS PREVIOUS FORECAST OF 200,000 BPD GROWTH)
⚠️ US EIA NOW EXPECTS US CRUDE OIL OUTPUT TO RISE TO 13.24 MILLION BARRELS IN 2024, VS 13.20 MILLION FORECAST IN MAY **EIA FORECASTS US CRUDE OIL OUTPUT TO RISE BY 310,000 BPD IN 2024, VS PREVIOUS FORECAST FOR 270,000 BPD INCREASE ** EIA FORECASTS US OIL OUTPUT TO GROW BY…
EIA: US CRUDE OIL OUTPUT TO RISE BY 310,000 BPD IN 2024, VS THE PREVIOUS FORECAST FOR 270,000 BPD INCREASE, AND IS TO GROW BY 470,000 BPD IN 2025, VS THE PREVIOUS FORECAST OF 530,000 BPD.
EIA FORECASTS US CRUDE OIL OUTPUT TO RISE BY 310,000 BPD IN 2024, VS PREVIOUS FORECAST FOR 270,000 BPD INCREASE
EIA raises its forecast for 2024 and 2025 world oil demand https://t.co/D1dnILKCbe
U.S. EIA RAISES FORECAST FOR 2024 WORLD OIL DEMAND GROWTH BY 180,000 BPD, NOW SEES 1.10 MLN BPD (YOY) INCREASE U.S. EIA RAISES FORECAST FOR 2025 WORLD OIL DEMAND GROWTH BY 80,000 BPD, NOW SEES 1.50 MLN BPD (YOY) INCREASE
EIA RAISES FORECAST FOR 2025 WORLD OIL DEMAND GROWTH BY 80,000 BPD, NOW SEES 1.50 MLN BPD YEAR-ON-YEA INCREASE.
EIA RAISES FORECAST FOR 2024 WORLD OIL DEMAND GROWTH BY 180,000 BPD, NOW SEES 1.10 MLN BPD YEAR-ON-YEAR INCREASE.
EIA: CURRENT YEAR CRUDE OIL PRODUCTION FORECAST 13.24 MLN BPD VS. 13.2 MLN BPD PREVIOUSLY. YEAR-AHEAD CRUDE OIL PRODUCTION FORECAST 13.71 MLN BPD VS. 13.73 MLN BPD PREVIOUSLY.
Opec maintaining their high oil demand growth expectations for 2024-2025. With extremely little Dwt in #Tanker newbuild tonnage incoming, this would suggest a very bullish outlook. Lets hope these demand expectations hold :) https://t.co/XPLKPXIju3
#OPEC Leaves 2024 World Oil Demand Growth Forecast Unchanged At 2.25M Barrels/Day, Leaves 2025 World Oil Demand Growth Forecast Unchanged At 1.85M Barrels/Day #OIL #OOTT
Oil prices little changed as OPEC sticks to demand and steady economic growth forecasts https://t.co/iqVVbO9ES0
OPEC sticks to 2024 oil demand growth forecast, but trims first-quarter view https://t.co/JW5W0LFp2b
OPEC Leaves 2024 World Oil Demand Growth Forecast Unchanged At 2.25M Barrels/Day, Leaves 2025 World Oil Demand Growth Forecast Unchanged At 1.85M Barrels/Day - OPEC Trims Estimate Of Q1 2024 Total Oil Demand By 50,000 BPD To 103.51M Barrels/Day; Increases Q2 2024 Forecast By…