Paris - Saba:
The International Energy Agency (IEA) has lowered its forecasts for global oil demand growth in 2025 to 700,000 barrels per day (bpd) and reduced its 2026 growth projection to 720,000 bpd.
In its monthly report released on Friday, the IEA also raised its expectations for oil supply growth this year following the recent decision by the OPEC+ alliance to increase crude output. The report highlighted a significant slowdown in oil consumption over the past few months.
The IEA, which advises industrialized nations, further stated in its report that it expects global crude oil supplies to rise by 2.1 million bpd in 2025 —an upward revision of 300,000 bpd compared to previous forecasts.
The International Energy Agency (IEA) has lowered its forecasts for global oil demand growth in 2025 to 700,000 barrels per day (bpd) and reduced its 2026 growth projection to 720,000 bpd.
In its monthly report released on Friday, the IEA also raised its expectations for oil supply growth this year following the recent decision by the OPEC+ alliance to increase crude output. The report highlighted a significant slowdown in oil consumption over the past few months.
The IEA, which advises industrialized nations, further stated in its report that it expects global crude oil supplies to rise by 2.1 million bpd in 2025 —an upward revision of 300,000 bpd compared to previous forecasts.