Full Title: Short-Term Energy Outlook
Author(s): SETO
Publisher(s): EIA
Publication Date: June 6, 2025
Full Text: Download Resource
Description (excerpt):
Global oil inventories increased over the first five months of 2025 and will continue to grow significantly over the forecast period. We expect they will increase by an average of 0.4 million barrels per day (b/d) for the remainder of the year. We expect global oil inventory builds will average 0.8 million b/d in 2025, 0.4 million b/d higher than in last month’s STEO. For the second half of the year, we expect that slowing global oil production growth—led by relatively flat U.S. crude oil production—and rising oil consumption growth mean builds will moderate to 0.6 million b/d next year, with markets moving towards balance.