Outlook 2025: Crude oil and changing global energy demand
Oil demand growth may be slowing, but the needs of rising populations and developing economies mean the outlook is still evolving
Global demand for energy is rising steadily due to factors including population growth and economic expansion in developing nations. Crude oil and refined products will continue to be a critical part of the energy landscape for years to come, even as factors such as the energy transition, weakened economics and the potential for oversupply are expected to change the picture. As we move towards the midpoint of this decade, global oil demand will continue to rise, but at a reduced pace, according to some forecasts. In early October 2024, the US Energy Information Administration (EIA) stated that world oil demand is expected to increase by 1.2m b/d, to 104.3m b/d, in 2025. This forecast is abou
Also in this section
7 November 2025
The Russian company’s German assets are under Berlin’s management and are exempt from sanctions, for now, but a permanent solution still needs to be found
6 November 2025
The Russian firm made a significant attempt to expand overseas over the past two decades but is now divesting its global operations
6 November 2025
After years of pursuing ideologically driven climate leadership, Western powers are now stepping back under mounting political pressure and rising populist opposition—prompting concern essential climate action could be sidelined
5 November 2025
Construction of the pipeline in Afghanistan is making tangible progress, but extending it into Pakistan and India remains unrealistic for political reasons
