Global oil demand in 2024 will increase by 862,000 barrels per day (bpd) compared to the previous year, according to the October report of the International Energy Agency (IEA), Report informs.
Analysts have lowered their estimate of demand growth by 41,000 bpd. They have revised downward their expectations for demand in 2023-2025.
Last year, the figure was 101.98 million bpd (September estimate - 102.08), in 2024 the figure is expected to be 102.84 million bpd (previous estimate - 102.99 million bpd), and in 2025 - 103.84 million bpd (August estimate - 103.94 million bpd).
The forecast for global oil demand growth in 2025 has increased by 44,000 bpd: from 954,000 bpd to 998,000 bpd.