Global crude oil demand 2020
Global demand for crude oil (including biofuels) in 2018 amounted to 99.3 million barrels per day and is projected to increase to 101.6 million barrels per day in 2020. When compared to the daily oil demand of 86.4 million barrels in 2010, the increasing demand trajectory is clear. EIA expects global petroleum and liquid fuels consumption will average 99.1 million b/d in the first quarter of 2020, a decline of 0.9 million b/d from the same period in 2019. EIA expects global petroleum and liquid fuels demand will rise by less than 0.4 million b/d in 2020 and by 1.7 million b/d in 2021. The March OMR will have the usual data and projections through end-2020, but with abridged text due to the release of Oil 2020 on the same day (provided free of charge to OMR subscribers). In the June report, supply and demand forecasts will be extended to 2021. The annual statistical supplement will be published on the same day as the August OMR. In the February 2020 update of its Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) forecasts that global liquid fuels demand will average 101.7 million barrels per day (b/d) in 2020, 1.0 million b/d more than the 2019 average but 378,000 b/d less than was forecast in the January 2020 edition of the STEO. It raised its forecast for non-OPEC oil supply growth in 2020 by 0.18 million bpd to 2.35 million bpd, up from 1.86 million bpd in 2019. OPEC, in the report, lowered its forecast for world economic growth in 2020 to 3.1% from 3.2% and said next year’s increase in oil demand would be outpaced by “strong growth” in supply from
Following a contraction in 2020 and an expected sharp rebound in 2021, global oil demand growth is set to weaken as consumption of transport fuels increases
12 Feb 2020 The Organization of the Petroleum Exporting Countries on Global oil demand growth in 2020 is expected to be 0.99 million barrels per day, 13 Feb 2020 Global oil demand has been hit hard by the coronavirus and the widespread shutdown of China's economy. Demand is now expected to 5 Dec 2019 Healthy demand growth in 2019-2020 leads to crude oil price recovery, despite the increased supply from the US shale. Experts forecast the 3 Jan 2020 Economic uncertainty, as the global economy experienced in 2019, is destructive of demand, and will remain a key factor for prices in 2020. 12 Nov 2019 The United States is increasingly leading the expansion in global oil supplies. Meanwhile, the production of heavier crude grades is hamstrung The world's biggest oil producers are under pressure to cut output as crude prices slump. 4 February 2020 Bloomberg reported this week that China's daily crude consumption had slumped by 20%, the equivalent of the UK and Italy's oil Global demand of crude oil is affected by the virus and prices crashed in the last two months. ET CONTRIBUTORS | Updated: Mar 1, 2020, 11.45 AM IST.
In its latest Oil Market Report, the agency predicts that demand will grow by 1 million barrels per day (mb/d) in 2019 and 1.2 mb/d in 2020, both of which are downward revisions by 100,000 bpd
The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry. It 12 Feb 2020 The Organization of the Petroleum Exporting Countries, headquartered in Vienna , Austria, downgraded world oil demand for 2020 to 990,000 12 Feb 2020 The Organization of the Petroleum Exporting Countries on Global oil demand growth in 2020 is expected to be 0.99 million barrels per day, 13 Feb 2020 Global oil demand has been hit hard by the coronavirus and the widespread shutdown of China's economy. Demand is now expected to
"We expect global oil demand to surpass 100 million barrels per day by 2020," Barkindo told the audience of oil industry leaders. This figure is far above the oil producing group's forecast for
1 day ago Measures to contain the coronavirus outbreak around the world are curbing demand for crude and products such as gasoline and jet fuel. 18 Feb 2020 China claimed more than three-quarters of global oil demand growth last year; it refines the second-greatest volume of crude oil every year. 16 Feb 2020 The IEA cut its 2020 growth forecast by 365000 bpd down to 825000 the impact of coronavirus on global oil demand would be "significant. The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry. It 12 Feb 2020 The Organization of the Petroleum Exporting Countries, headquartered in Vienna , Austria, downgraded world oil demand for 2020 to 990,000 12 Feb 2020 The Organization of the Petroleum Exporting Countries on Global oil demand growth in 2020 is expected to be 0.99 million barrels per day,
4 Mar 2020 IHS Markit now expects that Q1 2020 world oil demand will decline by the largest volume inhistory—even exceeding the declines during the
18 Feb 2020 China claimed more than three-quarters of global oil demand growth last year; it refines the second-greatest volume of crude oil every year. 16 Feb 2020 The IEA cut its 2020 growth forecast by 365000 bpd down to 825000 the impact of coronavirus on global oil demand would be "significant. The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry. It 12 Feb 2020 The Organization of the Petroleum Exporting Countries, headquartered in Vienna , Austria, downgraded world oil demand for 2020 to 990,000 12 Feb 2020 The Organization of the Petroleum Exporting Countries on Global oil demand growth in 2020 is expected to be 0.99 million barrels per day,
EIA expects global petroleum and liquid fuels consumption will average 99.1 million b/d in the first quarter of 2020, a decline of 0.9 million b/d from the same period in 2019. EIA expects global petroleum and liquid fuels demand will rise by less than 0.4 million b/d in 2020 and by 1.7 million b/d in 2021.