demand
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Oil prices could rise further this year, but 2024 demand to slow sharply: IEA
OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday.
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Novak: Global oil demand to grow by 2.4m bpd this year
The global oil demand has recovered after the coronavirus pandemic and will grow this year by 2.4 million barrels per day (bpd), Russian Deputy Prime Minister Alexander Novak said in an interview with the Rossiya-24 TV channel.
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Global energy demand to rise 23% by 2045, OPEC says
Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday.
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Oil rises as Saudi cut supports and focus turns to Fed
Oil rose on Thursday as tighter supply resulting from Saudi Arabia's pledged production cut and a potential pause to U.S. interest rate hikes offset worries over demand weakness and a global economic slowdown.
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OPEC holds global oil demand view steady, cites U.S. debt ceiling risks
OPEC's global oil demand forecast for 2023 was held steady for a third month, with the producer group citing the potential Chinese growth to be offset by downside economic risks elsewhere such as the U.S. debt ceiling.
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World gas needs $10.53tn by 2050
The Iranian Ministry of Petroleum’s Directorate of OPEC & Int’l Energy Fora has analyzed the latest edition of the Gas Exporting Countries Forum (GECF)’s 2050 Global Gas Outlook. Investment in natural gas is instrumental in stabilizing the global energy system because by 2050, the total investment needed to meet global gas demand would add up to $10.5 trillion. In a sector, whose annual production fall-off is estimated at 4-5%, lack of investment would mean a slump in supply and instead a spike in prices, which would subsequently bring about inflationary pressure and put a strain on livelihoods. That may blunt the willingness of citizens in developed nations to support governments backing energy transition and even make them resistant to any change. A revision of energy policies along with understanding the significance of investment in natural gas, as backup fuel for renewables and a factor of global development, would be a positive development for the future of human beings.
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Fuel Demand Crisis
TEHRAN (Shana) -- Global oil demand has dropped about 10% due to the coronavirus pandemic and subsequent economic crises. Such fall in demand has been accompanied with other problems and challenges. For instance, companies have had to cut investment in production by 25-30%.