IEA sees significant 2027 oil surplus after Hormuz recovery
A large supply surplus in 2027 could “provide a welcome respite to the market and an opportunity to replenish depleted inventories, or to build new strategic reserves,” the IEA said
Tag: OIL DEMAND
OPEC again lowers 2026 global oil demand growth forecast
The current forecast reduced the expected oil demand growth this year from 1.17 million barrels per day as previously seen. For 2027, OPEC expects oil demand to rise by 1.73 million bpd,
Global oil demand to grow less than expected in 2026, IEA says
Global oil demand will grow more slowly than previously expected this year, the International Energy Agency (IEA) said, while forecasting that the global market will continue to face a sizable surplus despite supply cuts that reduced output in January
IEA cuts oil supply forecast, but remains above demand
In its monthly oil market report, the IEA now estimates global supply at 106.2 million barrels per day in 2025, up 3 million bpd from 2024, which is 100,000 bpd less than it forecast in November
IEA: Global oil, gas demand could grow through 2050
Global demand for oil and gas could continue to rise until 2050, the International Energy Agency (IEA) said, marking a shift from its earlier expectations of a rapid transition to cleaner fuels and warning that the world is unlikely to meet its climate goals
IEA: projected rise in crude stocks is ‘unsustainable’
In its monthly oil market report, the IEA estimated that global inventories will rise by an average of 2.5 million barrels per day (bpd) in the second half of the year as supply far outpaces demand
OPEC sticks to oil demand forecasts, says economy doing well
OPEC made no changes to its relatively high global oil demand growth forecasts for this year and next, and said the world economy was maintaining a solid growth trend in the second half of this year
US oil production hit record high in June, EIA says
U.S. crude oil production hit a record high in June, rising 133,000 barrels per day to 13.58 million bpd, according to data released by the Energy Information Administration (EIA)
OPEC says world economy may do better in second half of year
In its monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecasts for global oil demand growth unchanged for 2025 and 2026, following reductions in April, stating that the economic outlook remained robust
IEA expects a balanced market despite tensions in Middle East
The global oil market is expected to move toward a mid-term balance, despite ongoing geopolitical tensions in the Middle East, as supply increases and demand growth slows, the International Energy Agency (IEA) said