Tag Archives: Organization for Economic Cooperation and Development (OECD) Countries

IEA Lowers Global Oil Demand Forecasts on Weak OECD Consumption

The International Energy Agency has revised down its prediction for oil demand growth this year, due to lower-than-expected consumption and a decline in industrial activity in Organisation for Economic Co-operation and Development member countries. Demand for 2024 was adjusted lower to 1.2 million barrels per day, about 100,000 bpd lower …

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OPEC Sees Strong Oil Demand Growth in 2025

Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels. OPEC expects global economic growth at 2.8% in 2025, up from the …

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IEA: World Oil Demand to Reach Record High in 2023

World oil demand will climb by 2 million b/d in 2023 to a record 101.9 million b/d, the International Energy Agency (IEA) said in its April issue Oil Market Report. Oil demand growth is characterized by widening regional disparities, with the non-OECD accounting for 87% of the growth and China …

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