January 21, 2025
Refined products demand outlook for 2025
Refined product demand is forecasted to grow by 0.88 Mbd y/y in 2025, down from 1.40 Mbd in 2024 and 3.43 Mbd in 2023, continuing a trend of slowing growth since 2021. This Research Update provides a breakdown of growth by product and region, alongside the key drivers influencing these trends.
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