IEA: Global oil supply could exceed demand by around 600,000 bpd this year.
Source Fxstreet
In its monthly oil market report published on Thursday, the International Energy Agency (IEA) said that “global oil supply could exceed demand by around 600,000 barrels per day (bpd) this year.
Additional takeaways
2025 world oil demand growth forecast seen at 1.03 million bpd (previously 1.10 mil bpd).
The surplus could widen further by 400,000 bpd if OPEC+ extends the unwinding of its output cuts..
US forecast to be the largest source of supply growth in 2025.
Global oil supply rose by 240,000 b/d in February on month.
US tariffs will act as barriers to global trade, economic growth in 2025.
OPEC+ might add 40,000 bpd to the market in April instead of 138,000 bpd.
IEA raises 2025 non-OPEC+ supply growth estimate to 1.5 millon bpd from 1.4 million bpd.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Ethereum price failed to clear the $2,000 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $1,920 resistance. Ethereum started a fresh decline below the key support
Bitcoin trades near $83,000 on Wednesday amid global trade war tensions between the US and international trading partners.
On-chain data shows the XRP Market Value to Realized Value (MVRV) Ratio has just gone through a crossover that may not be positive for the asset’s price. XRP MVRV Ratio Has Dropped Under Its
XRP price started a fresh recovery wave above the $2.00 zone. The price is now showing positive signs and might clear the $2.250 resistance zone. XRP price started a fresh recovery wave above the
Ethereum (ETH) traded around $1,860 in the Asian session on Thursday as its price remained largely subdued by bearish sentiment weighing on the general crypto market.
Related Instrument
