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Will the World See a “Staggering” Oil Supply Glut in 2030? The International Energy Agency (IEA) recently released its Oil 2024 report, which examines the global dynamics for oil supply security, refining, trade, and investment. The report received considerable media attention because of the projection that by 2030 oil production will reach “a staggering 8 million barrels per day above projected global demand.” The report cites the proliferation of electric vehicles, the growing utilization of renewable energy, and China’s declining oil consumption growth are key contributors… http://ow.ly/kcZk105xrv9

⚡ U.S. production of petroleum and other liquids to be driven by international demand | U.S. Energy Information Administration Discover more at "voltsbase.com/energy" #Energy #Voltsbase

The 2024 Oil report from the International Energy Agency (IEA) projects a surge in worldwide oil production, primarily driven by the US and other countries in the Americas, is anticipated to surpass the demand until 2030. Robust requests from rapidly growing markets in Asia, along with the aviation and petrochemical industries, are expected to elevate oil consumption in the forthcoming years.

Reading a fascinating article on the outlook of the oil and gas industry. Here's a question that sparked my curiosity and I'd love to hear your thoughts: How crucial is the role of critical minerals in shaping the future of energy transitions? Share your insights! Exciting to see the industry evolving amidst technological advancements and shifting global dynamics. The interplay of factors like renewable energy growth, investments in AI, and the rise of electric vehicles is reshaping the landscape. Let's dive into the discourse on critical minerals, clean energy, and the evolving strategies of key players in this ever-changing sector. Your perspective matters - drop your thoughts below! https://lnkd.in/e_S4nXtP

OIL OUTPUT RISES U.S. Oil Output, Demand Rose in April to Four-Month High, EIA Says - https://hubs.la/Q02DNGYj0  U.S. oil production and demand rose to a four-month high in April, according to the U.S. Energy Information Administration's (EIA) Petroleum Supply Monthly report published on Friday. #oilgas #energy #oilgas #oilandgascompanies

Growth in global oil demand decelerated to 1.7 million barrels per day in fourth quarter 2023 compared to 2022Q4, according to January’s “Oil Market Report” from International Energy Agency. https://ow.ly/73W850QsApP

Global Energy Perspective 2023: Refining outlook: Given declining oil demand and the move toward low-carbon energy sources, global refining may need to adapt to ensure that it plays a role in the accelerating energy transition. http://dlvr.it/T1pkxF

World oil demand continues to exceed expectations, the International Energy Agency (IEA) stated in its latest oil market report (OMR), which was released recently. “We have slightly revised up our 2023 growth forecast to 2.4 million barrels per day, as U.S. deliveries proved more resilient than indicated by preliminary data and Chinese oil demand in September set another all-time high above 17 million barrels per day, fueled by a booming petrochemical sector,” the IEA noted in its November OMR.  

World’s Top Oil Trader Sees Oil Demand Peak After 2030. A slower pace of the energy transition will push peak oil demand beyond 2030, according to the world’s biggest independent oil trader, Vitol Group.  “Oil demand has a good few number of years still to climb ... before it plateaus,” Vitol’s chief executive Russell Hardy said at the International Energy Week in London, as carried by Reuters. Overall global demand for oil, natural gas, and coal is also set to peak later than expected as the energy transition is progressing slower than initially thought, according… http://ow.ly/BwR7105k7in

World’s Top Oil Trader Sees Oil Demand Peak After 2030. A slower pace of the energy transition will push peak oil demand beyond 2030, according to the world’s biggest independent oil trader, Vitol Group.  “Oil demand has a good few number of years still to climb ... before it plateaus,” Vitol’s chief executive Russell Hardy said at the International Energy Week in London, as carried by Reuters. Overall global demand for oil, natural gas, and coal is also set to peak later than expected as the energy transition is progressing slower than initially thought, according… http://ow.ly/BwR7105k7in