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Oil Demand

All articles tagged with #oil demand

IEA foresees first global oil-demand dip since 2020 amid Hormuz disruption
business5 days ago

IEA foresees first global oil-demand dip since 2020 amid Hormuz disruption

The IEA forecasts world oil demand to fall by about 1 million barrels per day in 2026—the first annual decline since 2020—driven by the disruption of Middle East exports from the Strait of Hormuz. A gradual rebound is anticipated if a ceasefire and reopening of Hormuz materialize, but renewed clashes could derail the outlook. The market could swing back to a surplus toward year-end as other producers boost supply and demand remains softer than pre-war forecasts, though uncertainties from U.S.–Iran tensions persist.

via CNBC|
#business#iea#iran
U.S.-China Tech Tensions: Challenges and Strategies in the AI Chip Race
energy-geopolitics7 months ago

U.S.-China Tech Tensions: Challenges and Strategies in the AI Chip Race

The article discusses the complex and interconnected global oil market, highlighting recent shifts such as increased demand, OPEC+ production cuts, Russia's strategic moves to export oil eastward, and the geopolitical implications for countries like the US, China, and Venezuela, amidst ongoing conflicts and energy transition efforts.

via Council on Foreign Relations|
#energy-geopolitics#energy-security#oil-demand
IEA Predicts Continued Oil Demand Growth Until 2050 Amid Renewable Supply Boom
world8 months ago

IEA Predicts Continued Oil Demand Growth Until 2050 Amid Renewable Supply Boom

The International Energy Agency predicts that global oil and gas demand could continue to grow until 2050 under current policies, with no peak expected before then, and warns that the world is unlikely to meet the 1.5°C temperature rise limit without significant technological advancements. Despite recent shifts towards clean energy, existing policies suggest energy demand will increase, and LNG capacity is set to expand significantly, driven by rising power sector needs and data center growth.

via Reuters|
#climate-goals#energy-transition#iea
Oil Prices Fluctuate Amid Geopolitical Tensions and Market Changes
business9 months ago

Oil Prices Fluctuate Amid Geopolitical Tensions and Market Changes

Oil prices are expected to decline due to potential peace talks between the US and Russia, which could increase Russian oil exports and lead to a supply glut. Demand growth estimates have been revised downward, and US oil inventories are rising, while trade tensions between the US and China further dampen market outlooks.

via Crude Oil Prices Today | OilPrice.com|
#business#geopolitical-tensions#oil-demand
Gaza Peace Process: Progress, Challenges, and Resilience
energy-geopolitics9 months ago

Gaza Peace Process: Progress, Challenges, and Resilience

The article discusses the complex and interconnected global oil market, highlighting recent shifts such as OPEC+ production cuts, Russia's continued exports despite sanctions, and the impact of geopolitical tensions on oil prices and energy security. It emphasizes the rising demand, especially from Asia, and the strategic moves by countries like China, India, and Venezuela, while also considering the implications of energy transition policies like the European Green Deal.

via Council on Foreign Relations|
#energy-geopolitics#energy-security#oil-demand
Gas Prices Hit Three-Year Low, Falling Below $3
economy1 year ago

Gas Prices Hit Three-Year Low, Falling Below $3

Gasoline prices in the U.S. have dropped to their lowest point in over three years, with the national average falling to $2.97 per gallon, according to GasBuddy. This decline comes as Americans prepare for holiday travel, with 32 states already seeing averages below $3. The drop is attributed to decreased gasoline demand and increased inventories, alongside OPEC's decision to delay oil output increases. The trend is expected to continue, potentially lowering prices further by Christmas.

via Forbes|
#aaa#economy#gas-prices
"Spring Surge: Gas Prices Reach Four-Month Highs Across the U.S."
economy2 years ago

"Spring Surge: Gas Prices Reach Four-Month Highs Across the U.S."

As spring approaches, the national average gas price has risen to $3.39, with demand increasing and oil prices climbing. The top 10 states with the largest gas price increases since February include Ohio, Missouri, and Kansas, while California, Hawaii, and Washington are the top three most expensive gas markets in the US. AAA attributes the rise in gas prices to more expensive oil, with crude oil accounting for about 60% of gas prices.

via LiveNOW from FOX|
#aaa#economy#gas-prices
"U.S. Oil Production Forecast: Zero Growth Until 2025"
energy2 years ago

"U.S. Oil Production Forecast: Zero Growth Until 2025"

The EIA predicts zero growth in US crude oil production for 2024, with a drop in production expected for the remainder of the year. The cold snap in January caused a temporary decline in production, and the EIA forecasts a return to near-record levels in February. This lack of production growth could support crude oil prices and help OPEC tighten the market, with a global oil supply deficit of 120,000 bpd expected for this year.

via OilPrice.com|
#eia#energy#global-oil-supply-deficit
"IEA Forecasts Slower Oil Demand Growth for 2024 Amid Production Outages and Surplus"
energy2 years ago

"IEA Forecasts Slower Oil Demand Growth for 2024 Amid Production Outages and Surplus"

The International Energy Agency (IEA) has raised its 2024 global oil demand growth forecast for the third consecutive month, now projecting a rise of 1.2 million barrels per day (bpd) compared to 2023, citing macroeconomic headwinds and an expanding electric vehicle fleet. Meanwhile, OPEC expects robust world oil demand growth of 1.8 million bpd in 2025, with higher global economic growth and solid activity in China contributing to the outlook.

via OilPrice.com|
#energy#energy-outlook#global-economic-growth