# Oil Market Report - December 2024 – Analysis - IEA

> The IEA's December oil market report projects world oil demand growth accelerating from 840 kb/d in 2024 to 1.1 mb/d in 2025, reaching 103.9 mb/d. It also reports global supply rising 130 kb/d in November to 103.4 mb/d, led by recovery in Libya and Kazakhstan.

- Date: 2024-01-23 · published 2024-01-23T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/32023-oil-market-report-december-2024-analysis-iea
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Faster demand growth alongside steady supply points to a firmer crude balance, which supports energy costs for feed production, transport and fertilizer inputs.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-03-14 | [Oil Market Report - March 2022 - IEA](https://feedsoft.ai/events/5992-oil-market-report-march-2022-iea.md) | -4.2% | -10.1% |
| WTI | 2021-03-17 | [Oil Market Report - March 2021 - IEA](https://feedsoft.ai/events/6203-oil-market-report-march-2021-iea.md) | -10.9% | -2.6% |
| WTI | 2023-03-01 | [Oil Market Report - February 2023](https://feedsoft.ai/events/37512-oil-market-report-february-2023.md) | +2.0% | -4.9% |
| WTI | 2020-07-30 | [Comparative Analysis of Monthly Reports on the Oil Market](https://feedsoft.ai/events/52263-comparative-analysis-of-monthly-reports-on-the-oil-market.md) | +2.6% | +5.1% |
| WTI | 2018-03-09 | [Iran war shock to flip market to deficit in 2026: analysts](https://feedsoft.ai/events/66177-iran-war-shock-to-flip-market-to-deficit-in-2026-analysts.md) | +1.7% | +3.2% |
| BRENT | 2022-03-14 | [Oil Market Report - March 2022 - IEA](https://feedsoft.ai/events/5992-oil-market-report-march-2022-iea.md) | -3.7% | -11.6% |
| BRENT | 2021-03-17 | [Oil Market Report - March 2021 - IEA](https://feedsoft.ai/events/6203-oil-market-report-march-2021-iea.md) | -11.4% | -2.7% |
| BRENT | 2022-06-01 | [Oil Market Report - May 2022](https://feedsoft.ai/events/41560-oil-market-report-may-2022.md) | -0.4% | -3.3% |

## Sources

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

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