Related Articles
Forward article link
Share PDF with colleagues

IEA sees strong demand in 2014, non-OECD overtaking OECD

Emerging markets will once again lead oil demand growth in 2014, with surging North American production helping to meet record consumption

Global oil demand will rise by 1.2 million barrels a day (b/d) in 2014 bolstered by continued strong growth in emerging markets and an improved global economy, the International Energy Agency (IEA) said. The IEA said global oil demand will reach an average of 92m b/d in 2014, up from an 90.8m b/d this year. This demand growth will be driven by a stronger macroeconomic backdrop, the IEA said. In April the International Monetary Fund said global GDP growth would be 4% in 2014, up from 3.3% in 2013. The IEA, though, included the caveat that “given the current state of the world economy... particularly heightened risks surround forecasts of both economic progress and oil consumption.” In the

Also in this section
Opec and IEA diverge on world’s capacity cushion
13 July 2018
As trade tensions and disruptions ripple through the market, Opec and the IEA disagree on the risks to supply
Oil markets on the rise
10 July 2018
The oil-price recovery has helped to improve the outlook for oil and gas capital markets
Strategy v market dynamics
6 July 2018
Members must consider a host of complex issues as they wrestle with the problem of managing oil supply