What Are the Key Takeaways From IEA's Oil Market Report?

Zacks05-16

The International Energy Agency (IEA) has lowered its oil demand growth forecast for 2024 by 140,000 barrels per day (bpd), citing weak consumption in developed economies. This adjustment takes the ...

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This adjustment takes the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/key-takeaways-ieas-oil-market-121800383.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Are the Key Takeaways From IEA's Oil Market Report?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Are the Key Takeaways From IEA's Oil Market Report?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-16 20:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/key-takeaways-ieas-oil-market-121800383.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The International Energy Agency (IEA) has lowered its oil demand growth forecast for 2024 by 140,000 barrels per day (bpd), citing weak consumption in developed economies. This adjustment takes the ...</p>\n\n<a href=\"https://finance.yahoo.com/news/key-takeaways-ieas-oil-market-121800383.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0170899867.USD","symbol_name":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/key-takeaways-ieas-oil-market-121800383.html","article_id":"2435608408","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Y9DyFj7gjXfxD.Zap6F.mQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/2ec7f75c23c1db9ea656da7a7bb4ea95"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2435608408","pubTimestamp":1715861880,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"The International Energy Agency  has lowered its oil demand growth forecast for 2024 by 140,000 barrels per day , citing weak consumption in developed economies. This adjustment takes the expected growth down to 1.1 million bpd.The IEA's latest “Oil Market Report” attributes the downward revision to several key factors. Firstly, weak industrial activity in developed countries has led to a reduction in gasoil  consumption. Additionally, a mild winter in Europe further dampened demand. The decline has been compounded by Europe's transition away from diesel vehicles.The IEA's cautious outlook stands in stark contrast to the more optimistic projections from the Organization of the Petroleum Exporting Countries . While the IEA forecasts modest growth of 1.1 million bpd for 2024, OPEC expects a robust increase of 2.25 million bpd. This 1.15 million bpd discrepancy underscores divergent views on global economic resilience and oil demand dynamics.The IEA's revised forecast for 2024 highlights ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","BK4588":"碎股","MPC":"马拉松原油","UCO":"二倍做多彭博原油ETF","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4138":"石油与天然气的炼制和营销","IEA":"Infrastructure and Energy Alternatives, Inc.","SM":"SM Energy","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","BK4213":"石油与天然气的勘探与生产","APA":"阿帕契","SCO":"二倍做空彭博原油指数ETF","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","BK4129":"建筑与工程","BK4570":"地缘局势概念股","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0122376428.USD":"贝莱德世界能源基金A2","USO":"美国原油ETF"},"translate_title":"国际能源署的石油市场报告有哪些要点？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SM":1,"IEA":1,"APA":1,"USO":0.9,"MPC":0.9,"UCO":0.6,"SCO":0.6},"content_text":"The International Energy Agency (IEA) has lowered its oil demand growth forecast for 2024 by 140,000 barrels per day (bpd), citing weak consumption in developed economies. This adjustment takes the expected growth down to 1.1 million bpd.\nFactors Behind the Revised Projections\nThe IEA's latest “Oil Market Report” attributes the downward revision to several key factors. Firstly, weak industrial activity in developed countries has led to a reduction in gasoil (a by-product of petroleum used as fuel) consumption. Additionally, a mild winter in Europe further dampened demand. The decline has been compounded by Europe's transition away from diesel vehicles.\nWeak diesel deliveries in the United States also contributed to the overall reduction in OECD oil demand in the first quarter. The IEA noted that while demand in developed nations suffered, resilient consumption in non-OECD countries, particularly China, provided some offset.\nComparing IEA and OPEC Forecasts\nThe IEA's cautious outlook stands in stark contrast to the more optimistic projections from the Organization of the Petroleum Exporting Countries (OPEC). While the IEA forecasts modest growth of 1.1 million bpd for 2024, OPEC expects a robust increase of 2.25 million bpd. This 1.15 million bpd discrepancy underscores divergent views on global economic resilience and oil demand dynamics.\nOPEC maintains its bullish stance, supported by a strong global economy and the potential easing of monetary policies. OPEC's growth forecast of 1.85 million bpd for 2025 remains equally optimistic compared to the IEA's more conservative estimate of 1.2 million bpd.\nSupply Considerations\nThe IEA also revised its oil supply growth estimates for 2024, reducing it from 770,000 bpd to 580,000 bpd due to significant outages in Brazil and logistical challenges in the U.S. Despite these adjustments, global supply is expected to reach a record high of 102.7 million bpd. This supply-demand balance will be crucial for OPEC+ as it decides on extending voluntary output cuts in its upcoming June meeting.\nThe Path Forward for Oil Markets\nThe divergence between the IEA and OPEC projections sends mixed signals about the future of the oil market. The IEA's cautious approach reflects concerns over persistent high borrowing costs and inflation in major Western economies, which could dampen economic growth and oil demand. Conversely, OPEC's optimistic outlook hinges on economic growth and favorable monetary policies.\nThe IEA expects oil demand to peak by 2030, aligning with global efforts to transition to cleaner energy sources. In contrast, OPEC believes oil demand will continue to rise over the next two decades, not anticipating a peak in the foreseeable future.\nConclusion\nThe IEA's revised forecast for 2024 highlights the complex interplay of industrial activity, weather patterns, and shifting consumption trends in developed economies. The significant gap between IEA and OPEC projections underscores the uncertainty and divergent perspectives on the future of the oil market. \nAll eyes are now on the semi-annual meeting of OPEC+ ministers scheduled for June, where analysts expect discussions on the production policy for the second half of the year.\n3 Energy Stocks to Buy\nTo help out energy investors amid the conflicting viewpoints, we recommend accumulating stocks like SM Energy Company SM, Marathon Petroleum MPC and APA Corporation APA. SM Energy and Marathon Petroleum currently sport a Zacks Rank #1 (Strong Buy) each, while APA carries a  Zacks Rank #2 (Buy). \nYou can see the complete list of today’s Zacks #1 Rank stocks here.\nWe believe that oil’s current levels of just under $80 allow long-term-oriented market participants to buy shares in quality companies at attractive prices\nSM Energy Company: SM beat the Zacks Consensus Estimate for earnings in each of the trailing four quarters. SM Energy has a trailing four-quarter earnings surprise of 13.8%, on average.\nSM is valued at around $5.6 billion. SM Energy has seen its shares increase 92.9% in a year.\nMarathon Petroleum: Over the past 60 days, the Zacks Consensus Estimate for 2024 earnings has moved up 34%. \nMarathon Petroleum is valued at around $62.7 billion. MPC has seen its stock rise 63.5% in a year.\nAPA Corporation: APA is valued at some $11.2 billion. The 2024 Zacks Consensus Estimate for the company indicates 8.4% year-over-year earnings per share growth.\nAPA beat the Zacks Consensus Estimate for earnings in two of the trailing four quarters and missed in the other two, the average being 5.5%. APA shares have lost 4.6% in a year.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAPA Corporation (APA) : Free Stock Analysis Report\nSM Energy Company (SM) : Free Stock Analysis Report\nMarathon Petroleum Corporation (MPC) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.5","shortVersion":"4.22.5","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435608408"}