Crude oil terminal in Xuwei Port area of Lianyungang Port, Jiangsu
Outlook 2025: Crude markets look forward to brighter 2025
China drove the market for crude into the doldrums in 2024 with a big drop in demand, but a turnaround looks likely next year
At the time of writing this analysis, the jury is still out on the final oil demand growth figures for 2024. But one thing is for sure: the foremost forecasters and market participants have been deeply disappointed by the oil market’s performance. We at Vortexa track all seaborne oil and gas flows. Unfortunately, the picture looks even bleaker than the demand assessments. Based on data for the first ten months of 2024 vs the same period of 2023, seaborne shipments of all oil were down by 500,000b/d, with 300,000b/d of this accounted for by crude. Only LPG arrivals were up, by about 100,000b/d, thanks to rising US exports, while motor fuels were flat, with the remainder of the decline account
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
