Oil statistics 2019, World oil supply and demand, 1971-2018. 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 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. 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.
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
11 Aug 2016 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 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.
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
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 11 Mar 2019 Peak demand? The IEA's Oil 2019 report also challenges the commonly held notion that the world will soon see peak oil demand. Whilst the 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