Global Oil Market Faces Uncertainty Despite Surplus and Shifting Demand
TL;DR Summary
The International Energy Agency predicts that global oil supplies will significantly exceed demand in 2025, leading to increased inventories, despite geopolitical tensions in the Middle East. Supply growth is driven by Opec+ and non-Opec+ producers, while demand growth is restrained by weak consumption in China and the US. The IEA also forecasts that oil supply will continue to outpace demand through 2030, with China's demand peaking around 2027.
- Global oil supplies forecast to outstrip demand this year despite Middle East war Financial Times
- World oil demand to keep growing this decade despite 2027 China peak, IEA says Reuters
- Oil Market Well Supplied Through Decade End But Geopolitical Risks Bring Uncertainty, IEA Says WSJ
- China’s Oil Demand Will Peak Earlier Than Expected, IEA Says Yahoo Finance
- Amid rising geopolitical strains, oil markets face new uncertainties as the drivers of supply and demand growth shift IEA – International Energy Agency
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