Surplus anticipated in 2025 global oil market | Oil & Gas Journal

Jan 6, 2025 · The EIA estimates that global oil demand in 2024 could be 103.1 million b/d, rising by 990,000 b/d y-o-y, and in 2025, it could reach 104.35 million b/d, with an increase of 1.22 million b/d.

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Jan 9, 2025 · However, in 2025, more than 50% of that demand is expected to come in the form of natural gas liquids (NGLs) like propane and butane, which are used as a petrochemical …

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FAQs about Surplus anticipated in 2025 global oil market | Oil & Gas Journal Coupon?

Are global oil markets facing a smaller surplus this year?

Photo by Brandon Bell/Getty Images files Global oil markets face a smaller surplus this year than previously expected amid stronger demand and new risks to supply, the International Energy Agency (IEA) said. ...

Will there be a global oil surplus in 2025?

The International Energy Agency (IEA) predicts a significant global oil surplus in 2025, despite OPEC+'s efforts to curb production. ...

Will global oil supply outstrip demand in 2025?

Next year, global oil demand is set to grow by 1.1 million bpd, lifting consumption to 103.9 million bpd, per the agency’s latest estimates. However, supply is set to outstrip demand. Total oil supply is on track to rise by 1.9 million bpd in 2025, to 104.8 million bpd, even in the absence of the unwinding of OPEC+ cuts, according to the agency. ...

What if OPEC+ keeps its oil supply as-is in 2025?

Due to the uncertainty of the OPEC+ supply next year, the IEA’s latest forecasts of market balances exclude higher supply from the group. So even if OPEC+ keeps its oil production as-is for the whole of 2025, there would still be a surplus in supply of 950,000 barrels per day (bpd) next year. ...

Will oil oversupply affect the global oil market?

The potential oversupply could lead to lower oil prices and impact the revenue of oil-producing countries. The global oil market will find itself in a large surplus next year, even as OPEC+ has decided to defer the start of production increases to April, the International Energy Agency (IEA) said on Thursday. ...

How much oil will OPEC+ produce in 2025?

So even if OPEC+ keeps its oil production as-is for the whole of 2025, there would still be a surplus in supply of 950,000 barrels per day (bpd) next year. If OPEC+ does begin unwinding the voluntary cuts from the end of March 2025, this glut would swell to 1.4 million bpd, according to the agency. ...