The International Energy Agency (IEA) has projected that by 2025, the global demand for crude oil will reach a daily average of 65 million barrels. This figure indicates a significant increase, stemming from the rapid rise in electric vehicle (EV) sales.
According to the IEA’s report released on May 15, 2025, the expected demand increase is characterized by a growth rate that would mark a daily average of 99 million barrels in the first quarter of the year, compared to this year’s first quarter, which recorded an average demand of 74 million barrels per day. The report suggests that the anticipated rise in demand is influenced by global economic recovery and fluctuating oil prices, which impact crude oil requirements.
The report further clarifies that the acceleration in demand is attributed to a combination of factors, including the ongoing recovery of economic activities globally, particularly in major economies. The forecast estimates for 2026 project an average daily demand of 76 million barrels.
The IEA has noted that “uncertainty in the market continues to affect projections, which may lead to increased volatility in crude oil demand.” This highlights the influence of various economic conditions and policies on future demand patterns.
For more insights and details, you can check the IEA Oil Market Report.
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