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NEW YORK (Reuters) -Oil prices settled close to unchanged on Thursday, pressured by a forecast for ample supply in the oil market but supported by rising expectations of a Federal Reserve interest ...
The oil market could see a surplus of one million barrels of crude a day in 2025, the IEA forecast. The excess will be driven by low demand in China and booming output from non-OPEC countries.
That's one reason the global oil surplus could swell to 1.2 million barrels per day next year, according to JPMorgan. Otherwise, expanding outflows from the US, Brazil, Guyana and Canada will also ...
The annual World Energy Outlook (WEO) is the International Energy Agency's (IEA) flagship publication on global energy projections and analysis. [1] It contains medium to long-term energy market projections, extensive statistics, analysis and advice for both governments and the energy business regarding energy security, environmental protection and economic development.
Both crude benchmarks fell more than 3% last week, pressured by easing supply concerns from the Israel-Hezbollah conflict and 2025 surplus forecasts, despite expected sustained output cuts.
The International Energy Agency (IEA) is a Paris-based autonomous intergovernmental organization, established in 1974, that provides policy recommendations, analysis and data on the global energy sector. [3] The 31 member countries and 13 [4] association countries of the IEA represent 75% of global energy demand. [1]
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The IEA also forecast growth in global oil demand to “slow progressively” over the rest of the decade, with demand peaking by 2029 before contracting slightly the year after.