Oil market projections could be too optimistic
IEA and Opec projections for strong demand growth in 2014 rest on assumptions for economic growth that could prove far too optimistic
The International Energy Agency (IEA) and Opec don’t always agree. But in their monthly oil-market reports issued this week they are singing from the same hymn sheet. The world economy is coming out of the trough, they believe, and oil demand next year will rise quickly. If that sounds bullish, beware the details. The IEA’s outlook rests on IMF forecasts for the global economy that have already been downgraded. Both the agency and Opec also think non-Opec supply will rise more than demand next year. Neither of them has factored in the recent surge in oil prices, either. Both think Opec’s share of the market will slide still further. Things could get bumpy in the market in 2014. The IEA says
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
