Oil Demand

The International Energy Agency (IEA) forecasted that global oil markets are expected to experience a significant surplus by the end of this decade. However, Bob McNally, President of Rapidan Energy Group, warned of a potential shortage of transportation fuels by 2028. What Happened: During CNBC...

Saudi Aramco CEO Amin Nasser has cautioned that the global energy transition is faltering and urged policymakers to adopt a more realistic approach to the future of oil and gas. What Happened: Nasser, speaking at the CERAWeek by S&P Global energy conference in Houston, Texas, asserted that the...

The Organization of the Petroleum Exporting Countries (OPEC) has said in its 2022 World Oil Outlook that global oil demand is projected to increase from almost 97 million barrels a day (mb/d) in 2021 to around 110 mb/d in 2045. The world economy is expected to more than double...

Non-OPEC member countries are expected to boost their combined oil supplies by 1.5 million barrels a day next year, which by itself can satisfy the expected global demand growth of 1.4 million barrels a day, CNBC reported citing a report from the International Energy Agency. The bulk of new oil...

The International Energy Agency (IEA) put a damper on the bullish case for oil in its latest report. The agency said in its latest monthly report on Wednesday that it now expects oil stockpiles to continue accumulating through 2017, which will make the fourth consecutive year in which the world...

The price of oil continued to fall on Tuesday and hit its lowest level in three months. Oil for September delivery traded as low as $42.36 a barrel, marking the lowest levels since April 20. According to the Wall Street Journal, oversupply concerns contributed towards oil's weakness throughout July...

The price of oil traded solidly above the $50 per barrel mark on Tuesday due to various factors, including a disruption in supply from several oil producing nations such as Libya, Canada and Venezuela, a weaker U.S. dollar and... auto sales data out of India? According to the Wall Street Journal,...

Oil prices moved higher by more than 2 percent Monday as investors and traders reacted to reports that supply disruptions in Canada and Nigeria helped push oil production below consumption levels for the first time in two years. Meanwhile, analysts at Goldman Sachs who developed a reputation as...