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Benchmarking: 2025 Liquids Demand Grows Above Historic Average

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  • Taking the average of five leading forecasters, liquids demand this year will grow by 1.15 million barrels per day even as China’s dominance wanes.
  • On the supply side, production of oil and other liquids will increase by around 1.5 million b/d, according to the average forecast.
  • Averages suggest more supply than demand, but forecasters disagree on whether markets will see a surplus, a deficit or be roughly in balance.

A consensus of five forecasters sees liquids demand growing by around 1.15 million b/d this year, just above the 20-year historical average of 1 million b/d, which also was the average demand growth among the same five forecasters last year.

Topics:
Oil Forecasts, Oil Supply, Oil Demand, Opec-Plus Supply, Non-Opec Supply
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