Daily Energy Report
China’s 2025 oil demand, German LNG sources, Austria to lose Russian gas, LNG supply, Tech power needs, Russian refinery losses, Trump Energy appt., COP29 meltdown, Orban’s advice to EU, and more.
Chart of the Day: China’s Oil Demand is Expected to Increase in 2025... But!
Summary
Figure (1) shows the quarterly forecast of growth in China’s oil demand made by the IEA, OPEC, and EIA. While they all expect growth, the growth is lower than in previous years. OPEC remains the most optimistic despite all data to the contrary. In fact, the Q4 data for 2024 and 2025 do not make sense considering the downward revisions that OPEC made in the first three quarters.