Oil Prices End Higher After Tapping a 2-Week Low
IEA: Crude oil demand growth in 2024 may be halved, with a surplus of over one million barrels of crude oil expected every day next year.
In terms of demand, the IEA expects that this year, global oil consumption will increase by 0.92 million barrels per day, which is less than half of the growth rate in 2023. By 2025, demand will grow by 0.99 million barrels per day. However, the IEA predicts that supply growth will continue, with production from countries such as the usa, Brazil, Canada, and Guyana increasing by 1.5 million barrels per day this year and next.
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Express News | Bp's Chief Economist Says By 2035 The World Will Need 80M-100M Barrels/Day Of Oil In A Net Zero Environment; Non-OPEC Supply Growth Will Exceed Demand Growth Over The Next Several Years
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