Forecasts

(Reuters) – Global oil demand is set to grow to a bigger record this year while output growth will be smaller than prior forecasts, the U.S. Energy Information Administration (EIA) said on Tuesday. The widening supply deficit will increase withdrawals of oil from global stockpiles, pushing Brent crude prices back above $80 a barrel in …

US EIA Lifts Oil Demand Forecast, Says Prices Will Recover to Above $80/bbl Read More »

Global consumption will grow by 1 million barrels a day EIA expects market in deficit due to OPEC+ output cuts US oil demand growth is forecast to plateau this year, in the latest bearish indicator for the market, according to the Energy Information Administration. The agency sees US consumption holding steady at 20.3 million barrels a …

U.S. Oil Demand to Plateau in 2024, EIA Forecasts Read More »

Global consumption will grow by 1 million barrels a day EIA expects market in deficit due to OPEC+ output cuts US oil demand growth is forecast to plateau this year, in the latest bearish indicator for the market, according to the Energy Information Administration. The agency sees US consumption holding steady at 20.3 million barrels a …

U.S. Oil Demand to Plateau in 2024, EIA Forecasts Read More »

Sept 6 (Reuters) – Bank of America Global Research on Friday downgraded its 2025 Brent price forecast by $5 to $75 per barrel, citing weaker demand, particularly from China, and significant inventory builds. According to the bank’s analysts, subdued global oil demand growth of 1.1 million barrels per day (bpd) year-on-year in 2025, combined with …

BofA Lowers 2025 Brent Forecast by $5/bbl on Softer Demand Read More »

The crude oil market is currently tight but next year will likely be in surplus, with Brent prices declining into the mid-to-high $70s range, Morgan Stanley said.The tightness will hold for most of the third quarter, the bank said in a note dated on Friday, but equilibrium will return by the fourth quarter, “when seasonal …

Oil Market Likely to be in Surplus Next Year, Morgan Stanley Says Read More »

Summary Brent 2024 average is forecast at $83.93 a barrel in poll WTI 2024 average is forecast at $79.72 a barrel in poll Prices could spike to $90 depending on summer use, geopolitics (Reuters) – Oil prices will not change much in the second half of 2024 as concerns around demand from China and prospects …

Oil Prices to Stay Steady as China Demand Woes Offset Mideast Risks – Reuters Poll Read More »