Demand for oil in the world in 2024 compared to last year will grow by 962 thousand b / s, according to the monthly report of the International Energy Agency (IEA).
A month earlier the agency forecasted this indicator at the level of 1.062 mln b/s. Thus, analysts downgraded the estimate of demand growth by 100 thousand b/s.
The adjustment is due to an upward revision of the demand estimate for 2023: by 145 thousand b/s to 102.24 mln b/s. The agency’s analysts also raised the forecast for 2024: by 45 thousand b/s, to 103.2 mln b/s.
In 2025, the IEA expects oil demand to increase to 104.23 mln b/s, with this indicator growing by 1.03 mln b/s by the previous year. This estimate was downgraded from last month’s forecast by 150,000 b/s.
Observed world oil inventories in April increased for the third month in a row – by 19.3 mln barrels, mainly due to the growth of onshore stocks – by 83.5 mln barrels. At the same time, oil inventories in tankers fell by 64.2 million barrels.
