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Factbox: Key oil forecasts from the IEA's World Energy Outlook

Highlights

Average annual growth in oil demand to exceed 700,000 b/d from 2016-2040

But demand growth to slow down to just over 300,000 b/d from 2025-2040 Oil demand to grow to 104.9 mil b/d in 2040 from 93.9 mil b/d in 2016

US to become net oil exporter in the late 2020s: IEA Growing reliance on OPEC once US tight oil plateaus post-2025: IEA

US to make up 80% of the net increase in oil supply to 2025

US gross crude oil exports would reach around 4 million b/d in 2030 OPEC will increase output by some 14 million b/d between 2016 and 2040

Saudi Arabia oil production capacity to grow 1 mil b/d from 2016-2040

London — The International Energy Agency on Tuesday published its latest World Energy Outlook, containing forecasts for energy supply and demand to 2040. Below are some of the key projections for the oil sector.

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Key demand forecasts

KEY SUPPLY FORECASTS (million b/d)

Source: IEA World Energy Outlook 2017

Share of world supply

IEA crude import price under central scenario

--Eklavya Gupte, eklavya.gupte@spglobal.com
--Edited by Irene Tang, newsdesk@spglobal.com