SEATTLE (Oil Monster): The International Energy Agency (IEA) announced publication of its Oil Market Report for the month of August 2025.
The analysis projects that the world's oil demand will rise by 680 kb/d in 2025 and 700 kb/d in 2026, reaching 104.4 mb/d. Demand growth in non-OECD nations has recently counterbalanced the slower growth in China, India, and Brazil. The OECD countries' demand for oil was unchanged, but Japan's demand fell to levels not seen in decades.
In July of this year, the world's oil supply remained relatively stable at 105.6 mb/d. The rise in non-OPEC+ production more than made up for the 230 kb/d drop in OPEC+ output.
In August, the IEA predicts that global crude runs will reach an all-time high of 85.6 mb/d. Due mainly to expectedly improved statistics from the OECD and China, the projected throughputs are expected to increase to 83.6 mb/d in 2025 and 84 mb/d in 2026.
June 2025 saw an increase in world oil stockpiles for the fifth consecutive month, rising 28.1 mb month over month to reach a 46-month high of 7 836 mb. According to the IEA report, the OECD industry stockpiles had a 28.8 mb decline in June.
In July, benchmark crude oil prices mostly didn't change. However, following OPEC+'s announcement that it would completely remove its voluntary output curbs by September of this year, prices saw a fall.
YOU MAY ALSO BE INTERESTED IN:
