Related Articles
Forward article link
Share PDF with colleagues

Global oil demand to rise on non-OECD growth

The IEA says demand growth will rise by 1.4 million barrels per day

Global oil demand will rise by 1.5% next year, driven by economic growth in non-OECD countries, the International Energy Agency (IEA) said. In its July oil-market report the IEA said global oil demand growth will accelerate in 2015, rising by 1.4 million barrels per day (b/d) to average 94.1m b/d. Total global oil demand will average 92.9m b/d in the first quarter of 2015, before rising to a peak of around 95.3m b/d in the fourth quarter, the IEA said. This is up from an expected oil-demand growth rate of 1.2m b/d (1.3%) this year.  The increase will be driven by growing demand from non-OECD countries, which will consume an extra 1.5m b/d in 2015, causing the total to rise to 48.2m b/d. The

Also in this section
Opec starts to ease cuts
22 June 2018
The group is seeking to return compliance to 100%, implying a sharp immediate rise in output. But the details are vague
Opec's risky metamorphosis
22 June 2018
The urge to create a bigger producer group based on the Declaration of Cooperation is changing Opec's power politics
Trump's spectre looms over tense Opec meeting
19 June 2018
Russia and Saudi Arabia plan to raise supply. The move will please the US but make for a rocky summit this week