Tag #Oil Demand

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forbes.com

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Jul 19, 19:13

OPEC Predicts High Oil Demand Until 2050, Defying Peak Oil Concerns

OPEC forecasts global oil demand to reach 123 million barrels per day by 2050, driven by developing nations, while other forecasts predict peak oil demand as early as this year or by 2029 due to electric vehicle adoption and slower growth in China.

OPEC Predicts High Oil Demand Until 2050, Defying Peak Oil Concerns

OPEC forecasts global oil demand to reach 123 million barrels per day by 2050, driven by developing nations, while other forecasts predict peak oil demand as early as this year or by 2029 due to electric vehicle adoption and slower growth in China.

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What factors underpin OPEC's optimistic oil demand outlook, and what are the counterarguments?

OPEC's optimistic outlook is based on continued high demand from developing countries like India (projected 8.2 million bpd increase by 2050) and others in Asia, the Middle East, and Africa. Conversely, the International Energy Agency (IEA) and some energy companies predict peak oil demand within this decade, citing the rise of renewables and slower growth in China.

europe.chinadaily.com.cn

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Jun 3, 07:09

China's Refined Oil Demand to Decline Faster in 2025 Amidst Energy Transition

China's refined oil consumption decreased by 2.4 percent in 2024 due to increased electric vehicle and alternative fuel adoption, marking a turning point after years of steady growth, with experts predicting a faster decline in 2025.

China's Refined Oil Demand to Decline Faster in 2025 Amidst Energy Transition

China's refined oil consumption decreased by 2.4 percent in 2024 due to increased electric vehicle and alternative fuel adoption, marking a turning point after years of steady growth, with experts predicting a faster decline in 2025.

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What are the long-term implications of this declining oil demand for China's energy security, economic growth, and environmental goals?

China's oil and gas industry is adapting to the new energy trends, aligning energy security with green, low-carbon transition goals. The decreasing refined oil demand is expected to lead to greater market standardization and the potential faster removal of outdated refining capacities in 2025. This transformation is evident in the shift of refining capacities toward petrochemicals and the upgrade of State-owned refineries.

forbes.com

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Apr 21, 22:12

US-China Trade War Could Slash China's Oil Demand Growth by Half

Rystad Energy projects a potential 50% reduction in China's 2025 oil demand growth (180,000 barrels per day) due to a prolonged US-China trade war, primarily impacting diesel and petrochemicals, while potentially increasing naphtha demand.

US-China Trade War Could Slash China's Oil Demand Growth by Half

Rystad Energy projects a potential 50% reduction in China's 2025 oil demand growth (180,000 barrels per day) due to a prolonged US-China trade war, primarily impacting diesel and petrochemicals, while potentially increasing naphtha demand.

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Decent Work and Economic Growth

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How will a potential trade war affect different sectors of China's oil demand (e.g., petrochemicals, diesel, gasoline)?

China's projected 2025 oil demand growth of 180,000 barrels per day is significantly threatened by the ongoing trade war. Rystad Energy's analysis reveals that a severe trade war could cut this growth by 50%, primarily impacting diesel and petrochemical demand due to reduced consumer spending and industrial activity. Conversely, naphtha demand might increase due to reduced reliance on imports.

usa.chinadaily.com.cn

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Jan 24, 04:08

China's Petroleum Consumption to Peak in 2025

In 2024, China's investment in non-fossil fuels comprised one-third of global investments, causing a 1.7% decrease in refined oil consumption year-on-year; consumption is expected to peak in 2025 at 382 million tons, driven by the rapid rise of renewable energy and electric vehicles.

China's Petroleum Consumption to Peak in 2025

In 2024, China's investment in non-fossil fuels comprised one-third of global investments, causing a 1.7% decrease in refined oil consumption year-on-year; consumption is expected to peak in 2025 at 382 million tons, driven by the rapid rise of renewable energy and electric vehicles.

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How is the shift in China's petroleum consumption affecting different sectors of its economy?

The decrease in refined oil consumption is attributed to the rapid development of new energy resources, particularly new energy vehicles. However, growth continues in sectors like aviation kerosene and high-end chemical materials, indicating a transformation in petroleum usage.

forbes.com

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Dec 30, 04:08

India to Drive 25% of Global Oil Demand Growth in 2025

The EIA projects India to account for 25% of global oil demand growth in 2025, totaling 330,000 bpd increase, exceeding China's 250,000 bpd, due to strong economic growth and rising fuel demand; this contrasts with China's slowdown and increased EV adoption.

India to Drive 25% of Global Oil Demand Growth in 2025

The EIA projects India to account for 25% of global oil demand growth in 2025, totaling 330,000 bpd increase, exceeding China's 250,000 bpd, due to strong economic growth and rising fuel demand; this contrasts with China's slowdown and increased EV adoption.

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What is the projected impact of India's increased crude oil consumption on global oil demand growth in 2025?

India's surging crude oil consumption is set to overtake China's in 2025, accounting for 25% of global demand growth, projected at 1.3 million barrels per day (bpd) by the EIA. This growth is driven by rising demand for transportation and cooking fuels, with India's liquid fuel consumption forecast to increase by 330,000 bpd in 2025.

cnbc.com

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Dec 12, 04:08

Inflation Meets Expectations, Nasdaq Hits Record High

U.S. inflation edged up to 2.7% in November, meeting expectations and bolstering predictions of a Fed rate cut; concurrently, the Nasdaq Composite surpassed 20,000, driven by tech giants' gains, while ETF inflows exceeded $1 trillion.

Inflation Meets Expectations, Nasdaq Hits Record High

U.S. inflation edged up to 2.7% in November, meeting expectations and bolstering predictions of a Fed rate cut; concurrently, the Nasdaq Composite surpassed 20,000, driven by tech giants' gains, while ETF inflows exceeded $1 trillion.

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Reduced Inequality

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How do the record inflows into ETFs and the Nasdaq's new high connect with the inflation data and broader market trends?

The November inflation figures, in line with expectations, suggest a continuation of current economic trends. The Nasdaq's surge past 20,000 points, fueled by gains in tech giants like Alphabet and Tesla, reflects investor optimism tied to the anticipated rate cut. However, President-elect Trump's planned tariff increases pose a significant countervailing inflationary risk.

kathimerini.gr

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Jul 11, 13:13

OPEC Predicts Continued Rise in Global Oil Demand Through 2050

OPEC's annual report projects that global oil demand will continue to rise, reaching 113.3 million barrels per day by 2030 and nearly 123 million by 2050, driven by increased electricity consumption from data centers and AI, despite predictions by the IEA of peaking oil demand after this decade.

OPEC Predicts Continued Rise in Global Oil Demand Through 2050

OPEC's annual report projects that global oil demand will continue to rise, reaching 113.3 million barrels per day by 2030 and nearly 123 million by 2050, driven by increased electricity consumption from data centers and AI, despite predictions by the IEA of peaking oil demand after this decade.

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How do OPEC's projections for oil demand compare to those of other agencies, and what factors account for these differences?

OPEC's projections contrast with those of the International Energy Agency (IEA), which anticipates peak oil demand sometime after the end of the decade. This divergence highlights differing perspectives on future energy consumption patterns, influenced by factors such as economic growth and the adoption of renewable energy sources. The current oil price of around $70 per barrel reflects market uncertainty surrounding trade tensions and potential oversupply issues.

africa.chinadaily.com.cn

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Jun 3, 10:13

China's Refined Oil Demand Declines Amidst Energy Transition

China's refined oil consumption decreased by 2.4 percent in 2024, marking a turning point after years of growth; this decline is driven by increased electric vehicle and LNG truck adoption, impacting gasoline and diesel demand, and is expected to accelerate in 2025.

China's Refined Oil Demand Declines Amidst Energy Transition

China's refined oil consumption decreased by 2.4 percent in 2024, marking a turning point after years of growth; this decline is driven by increased electric vehicle and LNG truck adoption, impacting gasoline and diesel demand, and is expected to accelerate in 2025.

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What are the primary factors driving the decline in China's refined oil demand, and what are the immediate consequences?

China's refined oil demand, which peaked in 2024, is projected to decline further in 2025 due to accelerated energy transition and increased electric vehicle adoption. This shift resulted in a 2.4 percent year-on-year decrease in refined oil consumption in 2024, with NEVs and LNG heavy trucks displacing nearly 53 million metric tons of gasoline and diesel.

dw.com

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Apr 15, 16:11

IEA Lowers 2025 Global Oil Consumption Forecast

The IEA lowered its 2025 global oil consumption forecast by 300,000 barrels per day to 103.54 million due to weaker economic conditions and trade tensions, while OPEC made a smaller reduction; the price of crude oil has fallen below \$60 per barrel.

IEA Lowers 2025 Global Oil Consumption Forecast

The IEA lowered its 2025 global oil consumption forecast by 300,000 barrels per day to 103.54 million due to weaker economic conditions and trade tensions, while OPEC made a smaller reduction; the price of crude oil has fallen below \$60 per barrel.

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How do the IEA and OPEC forecasts for oil demand compare, and what factors account for any discrepancies?

The IEA attributes the reduced oil demand forecast to weaker economic prospects and the escalating trade war, with the impact particularly felt in the US and China. OPEC also reduced its forecast, but by a smaller margin. The decrease in oil prices is partly due to increased oil production by OPEC+ members, exceeding voluntary reduction targets.

cnnespanol.cnn.com

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Jan 23, 22:08

China's EV Revolution: Reshaping Cities and Global Energy

China's electric vehicle sales surged to 11 million in 2024, a 40% increase from 2023, leading to decreased oil demand and quieter cities, contrasting with the US approach under Trump.

China's EV Revolution: Reshaping Cities and Global Energy

China's electric vehicle sales surged to 11 million in 2024, a 40% increase from 2023, leading to decreased oil demand and quieter cities, contrasting with the US approach under Trump.

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How did government policies and technological advancements contribute to China's rapid growth in the electric vehicle sector?

This transformation stems from China's strategic push to dominate the EV market, driven by energy security concerns and a desire for technological leadership. Government support, technological advancements, and robust competition—particularly from BYD—have fueled this rapid growth, contrasting sharply with the US where gas prices are low and large vehicles remain popular.

forbes.com

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Dec 23, 16:07

IEA Predicts Peak Oil Demand This Decade, but Short-Term Forecast Shows Conflicting Trend

The International Energy Agency (IEA) forecasts peak oil demand this decade due to rising electric vehicle (EV) adoption, but this prediction contradicts their short-term forecast showing a 3 mb/d increase by 2030, raising concerns about the 'horizon effect' influencing long-term projections.

IEA Predicts Peak Oil Demand This Decade, but Short-Term Forecast Shows Conflicting Trend

The International Energy Agency (IEA) forecasts peak oil demand this decade due to rising electric vehicle (EV) adoption, but this prediction contradicts their short-term forecast showing a 3 mb/d increase by 2030, raising concerns about the 'horizon effect' influencing long-term projections.

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What is the primary driver of the IEA's prediction of peak oil demand this decade, and what is the key discrepancy between their short-term and long-term forecasts?

The International Energy Agency (IEA) predicts that oil demand will peak this decade, driven primarily by the increasing market share of electric vehicles (EVs). However, their short-term forecast shows a 3 million barrels per day (mb/d) increase in oil demand by 2030, contradicting the long-term peak prediction.

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