EIA forecasts international oil manufacturing will rise 1.6m bpd in 2025

The EIA is out with the most recent STEO.

• We anticipate the Brent crude oil spot value will stay near its present stage in 2025, averaging $74 per barrel for the yr
• They see the oil market as ‘comparatively balanced’
• US manufacturing seen at 13.52 mbpd vs 13.53 mbpd prior (vs 12.93 mbpd this yr)
• US pure gasoline consumption 90.2 bcf vs 89.6 bcf
• We anticipate international oil inventories will finish 2025 close to their present quantity
• Sees international demand at 104.three mbpd and provide at 104.2 mbpd

US manufacturing progress is slowing and I believe it can stage out with oil costs at these ranges.

“We anticipate that the extension of OPEC+ manufacturing cuts will trigger
inventories to fall by zero.7 million b/d the primary quarter of 2025 (1Q25).
Nonetheless, we anticipate the next ramp up in OPEC+ manufacturing and
continued provide progress exterior of OPEC+ will result in a median
stock construct of zero.1 million b/d over the rest of 2025,” the report says.

This text was written by Adam Button at www.ubaidahsan.com.



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