While major energy institutions IEA, OPEC, and EIA used to have little differences in their long-term growth projections for the oil market, their demand outlooks have become more divergent in recent years. In its 2024 outlook, OPEC expected global oil demand to increase to more than 113 million barrels per day by 2030. In comparison, the IEA's stated policies scenario (STEPS) from 2024 sees oil demand coming to merely 101.7 million barrels per day by 2030. A figure that was similar to the EIA's latest outlook.
Differences between key energy institutions in forecast crude oil demand worldwide for 2030, by year of outlook
(in million barrels per day)
Characteristic
IEA
EIA*
OPEC
2020
103.2
-
103.6
2021
103
105
102.7
2022
102.4
-
103.4
2023
101.5
101.9
107.9
2024
101.7
-
113.3
0255075100125
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Statista. (October 16, 2024). Differences between key energy institutions in forecast crude oil demand worldwide for 2030, by year of outlook (in million barrels per day) [Graph]. In Statista. Retrieved March 16, 2025, from https://www.statista.com/statistics/1538296/forecast-global-oil-demand-2030-by-year-of-outlook/
Statista. "Differences between key energy institutions in forecast crude oil demand worldwide for 2030, by year of outlook (in million barrels per day)." Chart. October 16, 2024. Statista. Accessed March 16, 2025. https://www.statista.com/statistics/1538296/forecast-global-oil-demand-2030-by-year-of-outlook/
Statista. (2024). Differences between key energy institutions in forecast crude oil demand worldwide for 2030, by year of outlook (in million barrels per day). Statista. Statista Inc.. Accessed: March 16, 2025. https://www.statista.com/statistics/1538296/forecast-global-oil-demand-2030-by-year-of-outlook/
Statista. "Differences between Key Energy Institutions in Forecast Crude Oil Demand Worldwide for 2030, by Year of Outlook (in Million Barrels per Day)." Statista, Statista Inc., 16 Oct 2024, https://www.statista.com/statistics/1538296/forecast-global-oil-demand-2030-by-year-of-outlook/
Statista, Differences between key energy institutions in forecast crude oil demand worldwide for 2030, by year of outlook (in million barrels per day) Statista, https://www.statista.com/statistics/1538296/forecast-global-oil-demand-2030-by-year-of-outlook/ (last visited March 16, 2025)
Differences between key energy institutions in forecast crude oil demand worldwide for 2030, by year of outlook (in million barrels per day) [Graph], Statista, October 16, 2024. [Online]. Available: https://www.statista.com/statistics/1538296/forecast-global-oil-demand-2030-by-year-of-outlook/
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