Reported 2 days ago
The International Energy Agency (IEA) has increased its 2025 oil demand growth projection, attributing this mainly to emerging Asia, though it cautions that overall demand remains weak. The IEA notes that oil markets are grappling with a supply glut, particularly due to a slowdown in Chinese demand during its economic downturn. As a result, the agency now expects global demand to rise by 1.1 million barrels per day rather than the previously estimated 920,000 barrels per day for the current year. The forecasts come amid continued output cuts by OPEC+ members.
Source: YAHOO