IEA predicts slower oil demand growth for the rest of 2025, met with jump in supply
- OPEC revised down its forecast on May 14, 2025, predicting non-OPEC+ oil supply growth will slow to 800,000 barrels per day this year.
- This revision follows a projected 5% drop in upstream investment, caused by falling oil prices and tariff-related trade uncertainties.
- Despite slower supply growth, OPEC maintained its global oil demand growth forecast at 1.3 million barrels per day in 2025 and 2026.
- OPEC highlighted that reduced spending on exploration and production activities in 2025 and 2026 will pose difficulties for maintaining output, even with ongoing improvements in operational efficiency and productivity.
- OPEC suggested the slower non-OPEC+ supply growth will help the OPEC+ alliance balance the global oil market amid ongoing output adjustments and trade risks.
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US EIA Forecasts World Oil Consumption Growth to Slow Amid Less Economic Activity - CleanTechnica
We forecast consumption growth of crude oil and other liquid fuels will slow over the next two years, driven by a slowdown in economic growth, particularly in Asia, in our May Short-Term Energy Outlook (STEO). The world economy, measured by GDP, increases 2.8% in 2025 and 2026 in our forecast. Excluding the ... [continued] The post US EIA Forecasts World Oil Consumption Growth to Slow Amid Less Economic Activity appeared first on CleanTechnica.


IEA predicts slower oil demand growth for the rest of 2025
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