Daily Energy Report
OPEC bullish on US oil demand, India’s Russian oil imports, IEA forecast, China’s electrification, IEA’s narrow geopolitical view, Long-term LNG contracts are back, Iraq’s flaring problem, and more.
Chart of the Day: OPEC Remains Bullish on US Oil Demand
Summary
Figure (1) shows quarterly estimates and forecasts of US oil demand in 2023, 2024, and 2025 by the IEA, OPEC, and the EIA. The two most important observations are these:
1- All of them expect a growth in US oil demand
2- OPEC is bullish on US oil demand in 2024 and 2025