Energy Market Data

At Abundant IoT, we help businesses navigate these evolving markets, leveraging insights to optimize energy strategies and enhance sustainability initiatives. Together, let’s harness the power of innovation and growth for a brighter, more abundant future.
Explore the latest trends shaping global energy markets in our comprehensive forecast for 2024 and 2025.

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Key Highlights 

Natural Gas Prices & Production 

• Prices: After dipping to record lows in late 2024, the Henry Hub natural gas price is forecast to average $2.90/MMBtu in 2025, driven by higher demand for U.S. LNG exports. 

• Production: U.S. natural gas production will rise modestly, with marketed output reaching 114 billion cubic feet per day (Bcf/d) in 2025, led by a 6% growth in the Permian region. 
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Electricity Generation Trends 

• 2024: Electric power sector generation is expected to grow by 3%, fueled by increased air-conditioning demand.

• Renewable Energy: Solar power leads the charge with a projected 34% growth in 2024, followed by an additional 31% in 2025 as capacity expands. 
• Natural Gas: Demand increases by 3% in 2024 but slows in 2025 due to rising prices. 

Global Oil Consumption 

• India leads the way in oil consumption growth, accounting for 25% of global increases. 

• Global liquid fuel consumption is set to rise by 1.0 million barrels per day (b/d) in 2024 and by 1.2 million b/d in 2025. 
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Oil Inventories & Prices 

• Short-term Outlook: Geopolitical risks and OPEC+ production cuts are expected to drive Brent crude prices to an average of $78 per barrel in Q1 2025. 

• Long-term Outlook: Rising global production will ease pressure, with prices declining to an average of $74 per barrel in the second half of 2025.