# Oil Market Report - November 2024 - IEA

> The IEA November report forecasts world oil demand growth of 920 kb/d in 2024 and just under 1 mb/d in 2025, to 102.8 mb/d and 103.8 mb/d. Global supply rose 290 kb/d in October, and OPEC+ delayed unwinding of voluntary cuts to January at the earliest.

- Date: 2024-11-14 · published 2024-11-14T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27587-oil-market-report-november-2024-iea
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Soft demand growth and rising non-OPEC supply point to a looser crude market, pressuring energy costs and related feed-chain margins.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2025-11-13 | [Oil Market Report - November 2025 - IEA](https://feedsoft.ai/events/22111-oil-market-report-november-2025-iea.md) | +2.2% | +0.6% |
| BRENT | 2018-11-13 | [Oil Market Report - November 2018 - IEA](https://feedsoft.ai/events/11336-oil-market-report-november-2018-iea.md) | -6.5% | -14.1% |
| BRENT | 2024-09-12 | [Oil Market Report - September 2024 - IEA](https://feedsoft.ai/events/10167-oil-market-report-september-2024-iea.md) | +5.1% | +9.0% |
| BRENT | 2025-10-14 | [Oil Market Report - October 2025 - IEA](https://feedsoft.ai/events/22591-oil-market-report-october-2025-iea.md) | -4.5% | -0.3% |
| BRENT | 2020-04-15 | [Oil Market Report - April 2020 - IEA](https://feedsoft.ai/events/4479-oil-market-report-april-2020-iea.md) | -47.7% | +11.5% |
| WTI | 2025-11-13 | [Oil Market Report - November 2025 - IEA](https://feedsoft.ai/events/22111-oil-market-report-november-2025-iea.md) | +1.6% | -2.2% |
| WTI | 2018-11-13 | [Oil Market Report - November 2018 - IEA](https://feedsoft.ai/events/11336-oil-market-report-november-2018-iea.md) | -4.8% | -13.7% |
| WTI | 2024-09-12 | [Oil Market Report - September 2024 - IEA](https://feedsoft.ai/events/10167-oil-market-report-september-2024-iea.md) | +5.3% | +8.4% |

## Sources

- iea.org: https://www.iea.org/reports/oil-market-report-november-2024

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.