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
Lower oil prices stemming from trade tensions and rising output are impacting U.S. shale output growth, while also curbing Russian oil revenue, the IEA said in a report on Thursday
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