By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > News > Global oil supplies forecast to outstrip demand this year despite Middle East war
News

Global oil supplies forecast to outstrip demand this year despite Middle East war

News Room
Last updated: 2025/06/17 at 4:11 AM
By News Room
Share
4 Min Read
SHARE

Stay informed with free updates

Simply sign up to the Oil & Gas industry myFT Digest — delivered directly to your inbox.

The International Energy Agency has predicted that global oil supplies will substantially outstrip demand this year even as the escalating conflict in the Middle East raises fears of disruptions.

Global oil production is expected to rise by 1.8mn barrels a day in 2025 to 104.9mn b/d, outstripping forecast demand of 103.8mn b/d and leading to a rise in oil inventories over the course of the year, the intergovernmental energy advisory body said in its annual report.

“In the absence of a major disruption, oil markets in 2025 look well supplied,” the IEA said.

The increase in supply is expected to come from both the Opec+ cartel, which is in the process of reversing a series of production cuts, and from non-Opec+ producers, which will add an average of 1.4mn b/d over the year, it said.

At the same time, weak consumption in China and the US will restrain global demand, which it predicted will grow by 720,000 b/d this year, less than a previously forecast increase of 740,000 b/d.

With supply exceeding demand, the amount of oil in storage in the world has risen by an average of 1mn b/d since February, and by “a massive” 93mn barrels in May alone, the IEA added. However, total inventories still remained 90mn barrels lower than a year ago.

The IEA cautioned that conflict between Israel and Iran posed significant “geopolitical risks to oil supply security” but added that there had been “no impact on Iranian oil flows at the time of writing”.

Iran partially suspended production at the world’s biggest natural gasfield, South Pars, after an Israeli air strike at the week, but it was still unclear if production had been impacted, it said.

The Shahran oil depot and refinery near Tehran had also been targeted, but no damage was reported, it added.

In a separate report on the outlook to 2030, the IEA forecast that oil supply would continue to outstrip demand over the next five years. Global oil demand is expected to increase by 2.5mn b/d between 2024 and 2030, reaching “a plateau” of 105.5mn by the end of the decade.

Supply will rise much faster, it said, with global production capacity increase by more than 5mn b.d to 114.7mn b/d.

The slowdown in oil demand growth will be driven in large part by China, where the IEA now expects consumption to peak in 2027, following a surge in electric vehicle sales and the continued rollout of high-speed rail and gas-powered trucking, it said.

The forecast aligns with predictions made by China’s largest oil companies but is the first time the IEA has put a firm date on peak Chinese demand.

Read the full article here

News Room June 17, 2025 June 17, 2025
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Stocks close in the red, tariff, trade policies, and the impact on markets AI toys

Watch full video on YouTube

Why U.S. businesses are jumping on the Dubai chocolate craze

Watch full video on YouTube

Client Challenge

Client Challenge JavaScript is disabled in your browser. Please enable JavaScript to…

Donald Trump’s escalating attacks on Federal Reserve unnerve investors

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Spain overtakes Germany as top EU asylum destination

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

News

Client Challenge

By News Room
News

Donald Trump’s escalating attacks on Federal Reserve unnerve investors

By News Room
News

Spain overtakes Germany as top EU asylum destination

By News Room
News

Brussels stalls probe into Elon Musk’s X amid US trade talks

By News Room
News

The fight to revive Europe’s shrinking rural areas

By News Room
News

Should China adopt a zero interest rate?

By News Room
News

China’s Belt and Road investment and construction activity hits record

By News Room
News

Von der Leyen botches €2tn EU budget proposal with chaotic infighting

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?