Latest news with #demandgrowth
Argaam
04-07-2025
- Business
- Argaam
Barclays raises Brent forecast to $72/brl for 2025
Barclays on Thursday said it raised its Brent oil price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 a barrel for 2026 on an improved outlook for demand, Reuters reported. "Geopolitical tensions have eased as the US.-mediated ceasefire between Israel and Iran continues to hold and the risk premium has evaporated, but price action has been reflecting better-than-expected fundamentals, in our view," said Barclays in a note. Despite the rapid increase in output from the OPEC+ alliance, global crude oil inventories declined in the second quarter. The bank also raised its forecast for global oil demand growth by 260,000 barrels per day (bpd), supported by a noticeable rise in consumption among OECD countries, where demand exceeded previous estimates. Analysts expect US oil demand to grow by 130,000 bpd this year, 100,000 barrels higher than earlier projections, despite expectations of a gradual slowdown in economic activity later in the year.
Zawya
02-07-2025
- Business
- Zawya
Global air cargo demand rises 2.2% in May despite trade pressures
The International Air Transport Association (Iata) has released its latest figures for May 2025, showing a 2.2% year-on-year increase in global air cargo demand, despite ongoing disruptions in major trade lanes. Measured in cargo tonne-kilometres (CTK), total demand rose by 2.2% compared to May 2024, with international operations up 3.0%. Available capacity, measured in available cargo tonne-kilometres (ACTK), also increased by 2.0% compared to May 2024 (+2.6% for international). "Air cargo demand globally grew 2.2% in May. That is encouraging news, as a 10.7% drop in traffic on the Asia to North America trade lane illustrated the dampening effect of shifting US trade policies. "Even as these policies evolve, already we can see the air cargo sector's well-tested resilience helping shippers to accommodate supply chain needs to flexibly hold back, re-route or accelerate deliveries," says Willie Walsh, Iata's director general. Operating environment highlights Key market conditions in May included: • Global industrial production rose 2.6% year-on-year in April, with air cargo volumes up 6.8% over the same period, outpacing global goods trade growth of 3.8%. • Jet fuel prices in May were 18.8% lower than a year earlier and 4.3% down month-on-month. • Global manufacturing activity contracted, with the Purchasing Managers' Index (PMI) falling to 49.1, below the 50-mark indicating growth. New export orders remained in negative territory at 48. Regional market performance • Asia-Pacific airlines led the market, reporting 8.3% growth in cargo demand — the strongest of all regions. Capacity rose 5.7%. • North American carriers recorded a -5.8% decline in demand, the weakest of all regions. Capacity fell -3.2%. • European carriers saw a 1.6% increase in demand, with capacity up 1.5%. • Middle Eastern airlines posted a 3.6% rise in demand and a 4.2% increase in capacity. • Latin American airlines reported a 3.1% increase in demand, with capacity growing 3.5%. • African airlines experienced a -2.1% decline in demand, despite a 2.7% capacity increase. Trade lane trends The much-anticipated decrease in the Asia-North America lane materialised, dropping -10.7% year-on-year as front-loading ahead of tariff changes ended and new de-minimis exemptions for e-commerce shipments took effect. However, other key routes recorded significant growth: • Europe-Asia: +13.4% (27 consecutive months of growth) • Middle East-Asia: +10.8% (third consecutive month of growth) • Within Asia: +9.1% (19 consecutive months of growth) • North America-Europe: +8.2% (16 consecutive months of growth) Meanwhile, Africa-Asia traffic fell by 14.6% year-on-year. Iata noted the resilience of the sector in managing supply chain volatility and shifting trade policies, with several trade routes demonstrating unexpected growth as cargo flows reorganised globally. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Zawya
01-07-2025
- Business
- Zawya
May global air cargo demand up 2.2%
GENEVA: Total demand for global air cargo, measured in cargo tonne-kilometers (CTK), rose by 2.2% compared to May 2024 levels (+3.0% for international operations), according to data released by the International Air Transport Association (IATA) for May 2025 global air cargo markets. Capacity, measured in available cargo tonne-kilometers (ACTK), increased by 2.0% compared to May 2024 (+2.6% for international operations). 'Air cargo demand globally grew 2.2% in May. That is encouraging news as a 10.7% drop in traffic on the Asia to North America trade lane illustrated the dampening effect of shifting US trade policies. Even as these policies evolve, already we can see the air cargo sector's well-tested resilience helping shippers to accommodate supply chain needs to flexibly hold back, re-route or accelerate deliveries,' said Willie Walsh, IATA's Director General. Several factors in the operating environment should be noted: Year-on-year, world industrial production rose 2.6% in April 2025. Air cargo volumes grew 6.8% over the same period, outpacing global goods trade growth of 3.8%. Jet fuel prices in May 2025 were 18.8% lower than the previous year and 4.3% below the previous month. Global manufacturing contracted in May, with the PMI falling to 49.1, below the 50 mark that signals growth. New export orders also remained in negative territory at 48, reflecting pressure from recent U.S. trade policy changes.
Zawya
02-06-2025
- Business
- Zawya
Oman: International passenger growth sees 8% increase in April
The International Air Transport Association (IATA) released data for April 2025, which stated that the total demand, measured in revenue passenger kilometers (RPK), was up 8% compared to April 2024. Total capacity, measured in available seat kilometers (ASK), was up 6.5% year-on-year. The April load factor was 83.6%. International demand rose 10.8% compared to April 2024. Capacity was up 8.5% year-on-year, and the load factor was 84.1%, the highest ever for April. Domestic demand increased 3.3% compared to April 2024. Capacity was up 3.1% year-on-year. The load factor was 82.7%. April was a positive month for travel. Growth strengthened, especially for international demand, which saw record load factors for the month. The return of the transatlantic market to growth is particularly encouraging. But there are some signs of fragility of consumer and business confidence with continued weakness in the US domestic market and a sharp fall in North American premium class travel,' said Willie Walsh, IATA's Director General. Middle Eastern carriers saw an 11.2 percent year-on-year increase in demand. Capacity increased 6.6% year-on-year, and the load factor was 83.1%. Domestic RPK rose 3.3% over April 2024, and load factor increased just 0.1 ppt to 82.7% on the back of 3.1% capacity expansion. Domestic US traffic was the only market to contract for a third straight month of decline, while India and Brazil expanded at a double-digit pace. India's capacity expansion was even faster, leading to a slight fall in load factor. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Argaam
15-05-2025
- Business
- Argaam
IEA raises oil demand growth forecast
The International Energy Agency (IEA) raised its forecasts for oil demand growth, projecting higher figures for both the current and upcoming years. Meanwhile, refinery output projections remain largely consistent with last month's report. In its May report published today, May 15, the agency increased its forecast for oil demand growth in 2025 by 20,000 barrels per day (bpd), bringing the total to 740,000 bpd. Similarly, the 2026 forecast has been raised to 760,000 bpd, up from the previously estimated 690,000 bpd.
