IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
OPEC and the IEA largely maintained their overall views of the market in their June 2025 oil market reports, despite geopolitical uncertainty. OPEC held its relatively bullish demand forecast by emphasising a strong base from the first half of 2025 could provide sufficient momentum into a sound second half, even though the growth could moderate on a quarterly basis. Both OPEC members and secondary sources reported only a slight increase in Declaration of Cooperation (DOC) output despite promises of around 550,000b/d of extra output in the past two months. The IEA emphasised structural shifts in its monthly report. it expects Chinese demand to peak before 2030 and foresees a broader decline i
Also in this section
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
17 February 2026
Eni’s chief operating officer for global natural resources, Guido Brusco, takes stock of the company’s key achievements over the past year, and what differentiates its strategy from those of its peers in the LNG sector and beyond
16 February 2026
As the third wave of global LNG arrives, Wood Mackenzie’s director for Europe gas and LNG, Tom Marzec-Manser, discusses with Petroleum Economist the outlook for Europe’s gas market in 2026
