IEA Revises Global Oil Demand Growth Forecasts

In its latest report, the International Energy Agency (IEA) has adjusted its projections for global oil demand growth. The agency now forecasts a demand growth of 840,000 barrels per day (bpd) for 2024, a reduction from the previous estimate of 920,000 bpd. However, for 2025, the IEA has raised its outlook to 1.1 million bpd.

This shift in projections reflects the evolving dynamics of the global energy market, influenced by various economic and geopolitical factors. The IEA's report underscores the need for continued monitoring and adaptability in energy policies and strategies.