EIA lowers forecast for global oil demand and US oil production – Commerzbank

FXStreetApr 11, 2025 11:19 AM

View all comments（0）



The US Energy Information Administration (EIA) has revised its forecast for global oil demand downwards, Commerzbank's commodity analyst Carsten Fritsch notes.

Oversupply fears push oil price outlook lower

"It now expects an increase of only 900 thousand barrels per day this year and 1 million barrels per day next year. Previously, the expected increase was 1.2 million barrels per day in each case. According to the EIA, the weaker demand and the stronger production increase by OPEC+ are likely to lead to a greater oversupply on the oil market in the second half of the year."

"As a result, the EIA also significantly lowered its assumptions for oil prices. In response, the EIA also reduced its forecast for US crude oil production. This is only expected to increase by 300,000 barrels per day in 2025 and to virtually stagnate next year."

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Samsung Electronics, SK Hynix Shares Under Pressure as Market Awaits South Korea's New Round of AI and Semiconductor Development Strategy

TradingKey - On June 29, the latest reports indicate that South Korean President Lee Jae-myung will officially unveil a new national development strategy today, covering semiconductors, AI data centers, and the robotics industry. Samsung Group and SK Group are expected to announce an investment blueprint at the meeting, with a total scale of up to 2,000 trillion won (approximately $1.3 trillion) over the next decade. The plan will focus on advanced memory chips, HBM, high-end wafer fabrication, advanced packaging, and AI infrastructure construction. These initiatives will also receive supporting government assistance in power, water resources, transportation, and talent cultivation.

Today’s Market Recap: AI Chip Stocks Pull Back, Micron Falls Over 6%, June Non-Farm Payroll Data Becomes Market Focus

TradingKey - On June 26, Eastern Time, the three major U.S. stock indexes closed mixed. Tech stocks remained under pressure and the semiconductor sector continued its pullback, dragging the Nasdaq down for a fifth consecutive trading day.

Japan and South Korea Stocks Open Lower; KOSPI Tumbles 3% to Lead Asian Tech Stocks, Samsung Electronics, SK Hynix and SoftBank Pull Back in Tandem

The KOSPI and Nikkei 225 indices continued to pull back, as Samsung Electronics, SK Hynix, SoftBank, and Kioxia fell across the board.

Ark Invest Buys SpaceX Dip Against the Trend, Why Cathie Wood Is Bullish on Musk’s ‘Orbital Computing Power Empire’

If you believe in "Space + AI Edge Computing," SpaceX stock could be considered for the long term. In the short term, SpaceX's stock price has corrected from its peak of $225 to around $154, deflating much of the speculative bubble from its early IPO phase and returning to a reasonable strategic allocation range.

Gold Price Forecast: Does Gold Falling Below $4,000 Mean the Bull Market Is Over? Will It Still Rise in the Second Half of 2026?

TradingKey - Heading into the second half of 2026, the gold market has transitioned from a strong performer early in the year to an asset undergoing a high-level correction. Recently, gold prices fell below the $4,000 threshold for the first time since November 2025, down approximately 29% from the all-time high of $5,597.91 reached in January. On the surface, gold seems to have entered a period of distinct weakness. However, looking at the full-year horizon, can gold still rise in 2026? The answer is that while short-term pressure persists, there are still opportunities for a medium-term recovery, and the long-term bullish thesis remains intact.

Featured Tools