June 17, 2025--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Timing, goes the old saying, is everything. As the Iran-Israel war expands to include attacks on each countries' oil infrastructure, the International Energy Agency (IEA) (Paris, France) issued its annual report on global oil production and consumption, refining and prices to 2030. Finalized last week as the two Middle Eastern foes began ratcheting up their hostilities, the agency forecast that global demand will increase by about 2.5 million barrels per day (BBL/d) between 2024 and 2030, reaching about 105.5 million BBL/d in 2030. But liquids production is expected to grow even more, by over 5 million BBL/d to 114.7 million BBL/d in 2030.
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