According to the International Energy Agency (IEA) oil supply forecasts for 2025, the figures will be favorable.
Despite the impact on the sector of low demand from China, the agency “increased its forecast for growth in global oil demand for 2025 to 1.1 million barrels per day, from 990,000 bpd” in November.
This measure is in addition to the three-month delay, until April of this year, by OPEC+ in the start of the increase in oil production and extended by one year, until the end of 2026.
For 2025, the IEA’s outlook “points to an excess supply of 950,000 barrels of oil per day, even excluding the return to higher production quotas.”
M.Pino
Source: larepublica.co
(Reference image source: Maria Lupan on Unsplash)
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