All articles tagged with #demand forecast
The outlook for crude oil demand is worsening due to escalating US-China trade tensions and global economic concerns, leading to a decline in investor bullishness and complicating supply-demand dynamics in the oil market, despite some supportive factors like peak driving season and refinery margins.
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.
Chip firm Marvell Technology's shares dropped 6% after its soft forecast, despite a surge in orders for AI networking equipment, due to ongoing weak demand from wireless and enterprise markets. Larger rival Broadcom also fell 2% as it maintained its annual forecast, despite predicting $10 billion in AI-related chip sales in 2024. Both companies are facing challenges from weak demand and inventory clearing by customers, impacting their market value.