# IEA: Oil demand growth to accelerate in 2019 fourth quarter | Oil & Gas Journal

> The IEA reported that global oil demand grew 1.1 million b/d year-on-year in the third quarter of 2019, the fastest pace in a year, with China contributing 640,000 b/d. It expects demand growth to accelerate to 1.9 million b/d in the fourth quarter. Full-year 2019 and 2020 demand growth forecasts were left unchanged at 1 million and 1.2 million b/d.

- Date: 2019-11-18 · published 2019-11-18T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56232-iea-oil-demand-growth-to-accelerate-in-2019-fourth-quarter-oil-and-gas-journal
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Stronger demand growth tightens the balance and supports crude prices. Energy price strength feeds into diesel, freight and biofuel costs that affect feed and oilseed markets.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2023-09-13 | [OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says \| Reuters](https://feedsoft.ai/events/34016-opec-cuts-to-tighten-oil-market-sharply-in-fourth-quarter-iea-says-reuters.md) | +2.6% | -3.3% |
| WTI | 2017-09-12 | [OPEC production falls to 32.76 million b/d in August \| Oil & Gas Journal](https://feedsoft.ai/events/68867-opec-production-falls-to-32-76-million-b-d-in-august-oil-and-gas-journal.md) | +3.8% | +3.2% |
| WTI | 2017-07-01 | [Global oil markets expected to tighten in third quarter 2017, then loosen through 2018](https://feedsoft.ai/events/70655-global-oil-markets-expected-to-tighten-in-third-quarter-2017-then-loosen.md) | -3.5% | +9.1% |
| WTI | 2023-04-14 | [Oil rises, logs weekly gains after IEA predicts record demand](https://feedsoft.ai/events/36561-oil-rises-logs-weekly-gains-after-iea-predicts-record-demand.md) | -5.9% | -13.8% |
| WTI | 2020-08-11 | [EIA revises up 2020 oil price forecasts on larger forecast stock draws \| Oil & Gas Journal](https://feedsoft.ai/events/51809-eia-revises-up-2020-oil-price-forecasts-on-larger-forecast-stock-draws-oil-and.md) | +2.3% | -12.2% |
| BRENT | 2023-09-13 | [OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says \| Reuters](https://feedsoft.ai/events/34016-opec-cuts-to-tighten-oil-market-sharply-in-fourth-quarter-iea-says-reuters.md) | +2.6% | -3.9% |
| BRENT | 2017-09-12 | [OPEC production falls to 32.76 million b/d in August \| Oil & Gas Journal](https://feedsoft.ai/events/68867-opec-production-falls-to-32-76-million-b-d-in-august-oil-and-gas-journal.md) | +2.7% | +2.8% |
| BRENT | 2025-07-01 | [OPEC trims 2025 oil demand growth estimate but hikes ‘call’ on its crude](https://feedsoft.ai/events/24393-opec-trims-2025-oil-demand-growth-estimate-but-hikes-call-on-its-crude.md) | +4.2% | +3.8% |

## Sources

- ogj.com: https://www.ogj.com/general-interest/article/14072167/iea-oil-demand-growth-to-accelerate-in-2019-fourth-quarter

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