Post Tagged with: "global oil demand"

Source: Reuters

Global oil demand to grow by 1.9 mln bpd in 2024, says Wood Mac

Nasdaq


LONDON – Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by energy research company Wood Mackenzie, a forecast close to the Organisation of the Petroleum Exporting Countries’ (OPEC) estimate …

Source: Reuters

Global oil demand hit another monthly record in December

Oil Price


Global oil demand rose by more than 500,000 barrels per day (bpd) in December from November, for the eighth monthly record in 2023, the latest data by the Joint Organizations Data Initiative (JODI) showed on Tuesday.

Rising demand …

WoodMac: Global oil demand to rise by 2 million Bpd in 2024

WoodMac: Global oil demand to rise by 2 million Bpd in 2024

Oil Price


Oil demand will continue to set records this year, with global demand growth expected at nearly 2 million barrels per day (bpd) compared to 2023, Wood Mackenzie said in a report on Thursday.

China will account for around …

Source: Reuters

OPEC+ remains positive on global oil demand before evaluating production cuts

World Oil


(Bloomberg) – OPEC+ still has a positive outlook for growth in oil demand, despite the headwinds faced by the global economy, as it prepares for its next ministerial meeting. “The economy, despite the challenges, is still doing quite …

Source: Reuters

Global oil demand hit a record high in March

Oil Price


Rising demand in China and the United States sent global oil demand surging by 3 million barrels per day (bpd) in March compared to February and hitting the highest level on record, data from the Joint Organizations Data …

Source: Oil Price

IEA sees global oil demand hitting a record high in 2023

Oil Price


China’s reopening is set to drive global oil demand to a record high of 101.7 million barrels per day (bpd) this year, up by 1.9 million bpd from 2022, the International Energy Agency (IEA) said on Wednesday, raising …

January 18, 2023 - 3:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Oil Price

Andurand: Global oil demand could surge in 2023

Oil Price


Global oil demand could soar as much as 4% in the coming year if the world manages to fully emerge from Covid restrictions, hedge fund trader Pierre Andurand has told Bloomberg.

 

Andurand says in a tweet that …

Source: Reuters

OPEC+ supply shortfall now stands at 3.5% of global oil demand

Nasdaq


LONDON – OPEC+ is now producing below its targets by a record 3.58 million barrels per day – about 3.5% of global demand – highlighting underlying tight supply in the oil market, even as recession fears drag oil prices …

Source: BOE Report

Global oil demand set to rise 2% to new high in 2023, says IEA

BOE Report


World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the …

June 15, 2022 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

APPEC-Global oil demand seen reaching pre-pandemic levels by early 2022

Reuters


SINGAPORE – World gas demand is anticipated to achieve pre-pandemic ranges by early subsequent year because the financial system shrugs off pandemic woes, however spare refining capability is more likely to weigh on outlook, oil producers and merchants stated …

Goldman sees oil price pullback as buying opportunity

Goldman sees oil price pullback as buying opportunity

Reuters


Goldman Sachs sees the oil price pullback as a buying opportunity and forecasts Brent crude reaching $80 per barrel this summer even as the recent rally in prices “takes a big breather.”

Oil prices are set to drop about …

Source: Reuters

Global oil demand recovery, gas growth ahead, say Aramco, Chevron CEOs

Reuters


Global oil demand is recovering and could return to around pre-pandemic levels next year, the chief executives of Saudi Aramco and Chevron Corp told an oil and gas conference on Tuesday.

The coronavirus pandemic last year wiped out a …

March 2, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Pandemic, energy transition to hasten peak in global oil demand: Rystad Energy

Reuters


OSLO – The COVID-19 pandemic and a faster transition to renewable energy sources will have a permanent impact on global oil demand, Norway’s biggest independent energy consultancy Rystad predicted on Monday.

Global demand will likely peak in 2028 at …

November 2, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil faces bumpy road to recovery as second virus wave accelerates: Reuters poll

Reuters


Oil prices will be hemmed in the $40-45 per barrel range for the rest of the year, a Reuters poll showed on Friday, with analysts expecting a rough road to recovery into 2021 as an accelerating coronavirus outbreak fans …

Source: Reuters

Oil extends losses after surprise U.S. crude stock build confirmed

Reuters


NEW YORK  – Oil prices extended earlier losses on Thursday after U.S. data showed a surprise build in crude stockpiles last week and on forecasts for lower global oil demand.

Brent futures LCOc1 fell 46 cents, or 1.1%, to …

September 10, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: CNBC

Oil demand to return to pre-pandemic levels by 2022, Goldman says, but unlikely to peak this decade

CNBC


Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending.

In a research note published Thursday, analysts at the U.S.

July 2, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: Houston Chronicle

Global oil use heads for record annual drop as virus spreads

Houston Chronicle


Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus outbreak.

Travel bans, work-from-home, canceled vacations and disrupted supply chains all mean reduced demand …

Source: CNBC

US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says

CNBC


The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020.

Rob Kaplan, president of the Fed district, said in an

Source: CNBC

Global oil demand to peak around 2040 or ‘much sooner,’ IMF says

CNBC


Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said in a new report on the future of oil.

The IMF said that this could have a “significant” impact on oil-exporting

Source: Reuters

Goldman expects an ‘uneventful’ three-month OPEC output cut extension

Reuters


Goldman Sachs said on Monday the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely extend its current output curbs through June, but expects the “uneventful” three-month extension to provide little support to prices.

OPEC and …

December 3, 2019 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC