IEA Sees Oil Surplus Narrowing in 2025 Amid Supply Risks

The transcript discusses the potential for OPEC Plus to restore oil supply due to increased demand growth, particularly in colder weather conditions. It highlights the expected supply growth from non-OPEC countries and the potential impact of Russian and Iranian supply disruptions. The US is projected to be the largest source of oil supply growth by 2025, although the growth rate has slowed. The impact of the Trump administration's policies on oil production is uncertain, but the US is still expected to see significant supply increases.

What factor has contributed to the increased oil demand in the fourth quarter of 2024?

• Economic growth in Asia

• Increased industrial activity

• Rising oil prices

• Colder weather in the Northern Hemisphere

What is the expected supply growth from non-OPEC countries in 2025?

• 2 million barrels a day

• 1.5 million barrels a day

• 500,000 barrels a day

• 1 million barrels a day

How much spare capacity does OPEC Plus currently have?

• 4 million barrels a day

• 5 million barrels a day

• 6 million barrels a day

• 7 million barrels a day

What is the expected increase in US oil supply in 2025?

• 400,000 barrels a day

• 700,000 barrels a day

• 500,000 barrels a day

• 600,000 barrels a day

What is the main uncertainty regarding the impact of the Trump administration's policies on oil production?

• The availability of new technology

• The implementation of new policies

• The global demand for oil

• The level of international cooperation