#oildemand — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #oildemand, aggregated by home.social.
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Oil Market’s Glut Narrative Just Blew Up
Less than a month ago, analysts were warning of a looming glut of crude oil as tanker traffic…
#NewsBeep #News #Business #GB #IEA #Oil #oildemand #oilglut #oilmarkets #Refinedproducts #UK #UnitedKingdom
https://www.newsbeep.com/uk/712749/ -
Oil Prices Rise as U.S.-Iran Peace Hopes Fade
Crude oil prices ticked higher today as hopes for a peace deal between the United States and Iran…
#NewsBeep #News #Business #brent #CA #Canada #crudeoil #fuelprices #Irán #MiddleEast #oildemand #OPEC #Sanctions #Trump #WTI
https://www.newsbeep.com/ca/664151/ -
IEA’s Birol Says Iran War Will Permanently Cut Into Future Oil Demand
International Energy Agency chief Fatih Birol says the Iran war has permanently changed the fossil fuel industry and…
#NewsBeep #News #Business #Birol #CA #Canada #DemandDestruction #IEA #Iranwar #oil #oildemand #OilSupply
https://www.newsbeep.com/ca/626448/ -
IEA Urges Working From Home and Cutting Air Travel to Ease Oil Supply Shock
Amid the biggest oil supply shock in history, the International Energy Agency (IEA) on Friday called on governments…
#NewsBeep #News #Business #airtravel #CA #Canada #diesel #emergencyreserves #fuelmarkets #IEA #jetfuel #MiddleEastwar #oildemand #OilShock #StraitofHormuz
https://www.newsbeep.com/ca/548903/ -
OPEC just hiked output—but oil prices fell. Why? Demand’s slipping. EVs are crushing growth, China’s imports are flat, and the old oil playbook isn’t working. This isn’t strength—it’s defense. The S-curve is real. You can’t outpump a disruption. Charge, baby, charge!⚡📉 #EVs #OilDemand #Scurve
Oil pares loss as tight market... -
OPEC just hiked output—but oil prices fell. Why? Demand’s slipping. EVs are crushing growth, China’s imports are flat, and the old oil playbook isn’t working. This isn’t strength—it’s defense. The S-curve is real. You can’t outpump a disruption. Charge, baby, charge!⚡📉 #EVs #OilDemand #Scurve
Oil pares loss as tight market... -
The IEA has lowered its oil demand growth forecast for the third consecutive month due to a significant drop in Chinese consumption. The revised estimate predicts an increase of 862,000 bpd this year, down from 903,000 bpd. For 2025, the forecast sees demand rising to 103.8M bpd, with China expected to contribute only 20% to global gains, a stark decline from nearly 70% last year. OPEC’s forecast remains more optimistic, predicting a growth of 1.93M bpd this year.#OilDemand #IEA #OilMarket
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The IEA has lowered its oil demand growth forecast for the third consecutive month due to a significant drop in Chinese consumption. The revised estimate predicts an increase of 862,000 bpd this year, down from 903,000 bpd. For 2025, the forecast sees demand rising to 103.8M bpd, with China expected to contribute only 20% to global gains, a stark decline from nearly 70% last year. OPEC’s forecast remains more optimistic, predicting a growth of 1.93M bpd this year.#OilDemand #IEA #OilMarket
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OPEC reports August crude oil production at 26.59M bpd, down 197K bpd from July, mainly due to Libyan decline. It also trims 2024 global oil demand growth forecast to 2.03M bpd and 2025 forecast to 1.74M bpd. #OPEC #OilProduction #OilDemand #Energy
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Bluff and bluster:
Exxon is playing a gigantic game of chicken, with billions of investor money and the health of the planet on the table.Exxon forecasts 2050 oil demand to match today's, 25% above BP estimate
"Exxon estimates #ElectricVehicles will not significantly alter long-term global #OilDemand, as the world's population is expected to increase from 8 billion today to nearly 10 billion in 2050, adding to demand for energy."
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Bluff and bluster:
Exxon is playing a gigantic game of chicken, with billions of investor money and the health of the planet on the table.Exxon forecasts 2050 oil demand to match today's, 25% above BP estimate
"Exxon estimates #ElectricVehicles will not significantly alter long-term global #OilDemand, as the world's population is expected to increase from 8 billion today to nearly 10 billion in 2050, adding to demand for energy."
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Global economic growth steady at 2.8% for 2024. Non-OECD economies, especially BRICs, performed well in 1H24. Oil demand to grow by 2.3 mb/d in 2H24, led by US and China. Non-DoC liquids supply to increase by 0.7 mb/d in 2H24. #OPEC #GlobalEconomy #OilDemand #OilSupply #Energy
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#IEA: China's oil demand growth dropped to 95k bpd in April from 800k bpd in Q1. Non-OPEC+ to add 1.4M bpd in 2024. Global demand to peak at 105.6M bpd by 2029, then decline. Supply capacity will reach 114M bpd by 2030. #OilDemand #OilSupply #EnergyForecast #China #Economy
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OPEC: Global services sector to drive 2H 2024 growth, boosting oil demand. Nigeria's output up 74,000 bpd; Saudi down 32,000 bpd. OPEC's May output +29,000 bpd to 26.63M bpd. Demand forecasts steady: 2024 at 2.25M bpd, 2025 at 1.85M bpd. #OPEC #OilDemand #OilProduction
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The number of drilling rigs worldwide rose by 63 last month to 1864, with a rise of 12 rigs in OPEC countries and 51 in non-OPEC countries. Global oil demand is expected to increase by 2.24 million barrels compared to last year, reaching 104.4 million barrels, driven by capacity expansions and petrochemical margins in non-OECD countries, particularly in China and the Middle East. #OPEC #OilProduction #OilDemand #CrudeOil #OilMarket #EnergySector #GlobalEconomy
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The share of OPEC crude oil in total global production decreased by 0.2 percent last month compared to the previous month, amounting to 25.9 percent. Demand for OPEC crude oil is forecasted to increase by 1 million barrels per day compared to last year, reaching 28.4 million barrels per day this year, and further rising to 28.8 million barrels per day next year. #OPEC #OilProduction #OilDemand #CrudeOil #OilMarket #EnergySector #GlobalEconomy
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Daily oil production dropped by 162 thousand barrels in Libya, 109 thousand barrels in Kuwait, 98 thousand barrels in Iraq, and 46 thousand barrels in Algeria. Meanwhile, the United Arab Emirates saw a daily production increase of 31 thousand barrels, and Saudi Arabia's production rose by 25 thousand barrels. #OPEC #OilProduction #OilDemand #CrudeOil #OilMarket #EnergySector #GlobalEconomy
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According to OPEC's monthly oil market report, crude oil production witnessed significant declines in Libya, Kuwait, Iraq, and Algeria in January. Conversely, the United Arab Emirates led the countries with increased production, followed by Saudi Arabia, the group's largest producer. #OPEC #OilProduction #OilDemand #CrudeOil #OilMarket #EnergySector #GlobalEconomy
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Forget #PeakOil #Demand: A Thirst for Barrels Puts $100 in View. #China’s# consumption is #soaring as #CovidRestrictions ease. #Global #OilDemand heads for a record despite energy transition #FossilFuels #ClimateCrisis #GlobalHeating https://www.bloomberg.com/news/articles/2023-03-05/oil-prices-threaten-to-hit-100-a-barrel-with-chinese-demand-soaring
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Forget #PeakOil #Demand: A Thirst for Barrels Puts $100 in View. #China’s# consumption is #soaring as #CovidRestrictions ease. #Global #OilDemand heads for a record despite energy transition #FossilFuels #ClimateCrisis #GlobalHeating https://www.bloomberg.com/news/articles/2023-03-05/oil-prices-threaten-to-hit-100-a-barrel-with-chinese-demand-soaring