US EditionGlobal Oil Market Looks ‘Bloated’ Amid Lackluster Demand From Major Economies | News Channel 3-12
The International Energy Agency cut 2025-26 oil demand growth forecasts by 350,000 barrels per day while raising supply outlook due to OPEC+ output increases and non-OPEC production growth.
- This week, the International Energy Agency lowered its forecast for oil demand growth for this year and raised its supply forecast by 370,000 bpd to 2.5 million bpd.
- Emerging economies saw demand revised down, as the International Energy Agency cited ‘lacklustre demand across the major economies’ with weak consumption in China, Brazil, Egypt and India.
- Forecasts now project that the IEA trimmed its demand growth estimate by 20,000 bpd for both this year and next year, citing weaker global consumption.
- After the report, Brent crude traded below $66 a barrel as supply may exceed demand by almost 3 million bpd next year, IEA said.
- Future data suggest global oil supply will rise by 2.5 million bpd in 2025 and by a further 1.9 million bpd next year, with refinery runs reaching 83.6 million bpd in 2025.
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17 Articles
17 Articles
The International Energy Agency lowers its forecast and establishes this with the weak global economy. The IEA forecast contradicts that of the Opec.
·Vienna, Austria
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for experts the price will slip to 50 dollars
·Turin, Italy
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Coverage Details
Total News Sources17
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution33% Left, 33% Center, 33% Right
Bias Distribution
- 33% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
33% Right
L 33%
C 33%
R 33%
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