Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Commodities

IEA lifts 2025 global oil demand growth forecast to 1.1 million bpd

Source Fxstreet

In its monthly oil market report published on Thursday, the International Energy Agency (IEA) raised 2025 global oil demand growth forecast to 1.1 million barrels per day (bpd) from 990,000 bpd.

Additional takeaways

2024 world oil demand growth forecast seen at 840k bpd versus the previous forecast of 920k bpd.

Sees comfortable oil supply in 2025.

Predicts a 1.4 million barrels per day oversupply by 2025 if OPEC+ increases production.

Reports preliminary data showing global oil reserves increased in November.

OPEC+ delay in supply cuts significantly reduces 2025 oil surplus.

Reports OECD industry stockpiles decreased by 30.9 million barrels in October.

Non-OPEC+ supply to increase by almost 1.5 million barrels per day in 2024-2025.

Global oil supply to increase by 630,000 barrels per day in 2024 and 1.9 million in 2025.

China's oil demand to increase by 140k barrels per day in 2024 and 220k barrels per day in 2025.

Current balances indicate a 950k bpd supply overhang in 2025 if OPEC+ starts unwinding voluntary cuts by the end of March 2025.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Understanding the first crypto market crash of 2024 and what to expect next The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.

Author FXStreet

Jan 04, Thu

The 365-day MVRV ratio suggests that this crash may be just the beginning. If the ETF is rejected before the second quarter of 2024, it could trigger a sharp correction.

Natural Gas sinks to pivotal level as China’s demand slumps Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Author FXStreet

Jul 01, Mon

Natural Gas price (XNG/USD) edges lower and sinks to $2.56 on Monday, extending its losing streak for the fifth day in a row. The move comes on the back of China cutting its Liquified Natural Gas (LNG) imports after prices rose above $3.0 in June. It

Is Nvidia the Top Artificial Intelligence (AI) Stock to Own in 2025?Few stocks have done as consistently well as Nvidia (NASDAQ: NVDA) over the past two years.

Author The Motley Fool

22 hours ago

Few stocks have done as consistently well as Nvidia (NASDAQ: NVDA) over the past two years.

AUD/USD picks up from 0.6340 lows, the broader trend remains negative The Aussie has bounced up from year-to-date lows with the negative bias intact.

Author FXStreet

22 hours ago

The Aussie has bounced up from year-to-date lows with the negative bias intact.

Cardano Founder Reveals Bitcoin DeFi Roadmap For 2025 In a series of statements on X, Charles Hoskinson, the founder of Cardano and CEO of Input Output Global (IOG), outlined his plans to integrate Bitcoin into a decentralized finance (DeFi) ecosystem by 2025. The plan involves leveraging Bitcoin’s liquidity and making the project a layer-2 like network.

Author Bitcoinist

9 hours ago

In a series of statements on X, Charles Hoskinson, the founder of Cardano and CEO of Input Output Global (IOG), outlined his plans to integrate Bitcoin into a decentralized finance (DeFi) ecosystem by 2025. The plan involves leveraging Bitcoin’s liquidity and making the project a layer-2 like network.

Related Instrument