News in Numbers

Exxon predicts oil demand will remain above 100 million barrels a day over the next 25 years, with a 15% increase in global energy use by 2050.

Global capacity was estimated at 103.5 million barrels per day in 2023, according to data from the EIA, with the Asia-Pacific region playing a significant role in expected growth.

The amount by which the EIA expects continued oil production cuts from the OPEC+ alliance will reduce global oil inventories through the first quarter of 2025.

The amount the US’s Permian Basin will add to the US economy by 2050, as well as providing 1,200,000 jobs, according to data from the Permian Strategic Partnership (PSP).

Natural gas production in China jumped by 6% in the first half of this year, reaching 123.6 billion cubic metres in January to June, an annual 6% rise.