US EditionIEA, like OPEC, cuts 2025 oil demand forecast on trade tensions
- The mutual trade embargo between Washington and Beijing has led to oil prices dropping to their lowest level since February 2021, now priced just over $64.65 per barrel.
- Economists warn that Saudi Arabia could face a budget deficit of $67 billion this year due to falling oil revenues, impacting national projects and economic stability.
- The ongoing trade tensions have spurred fears of a global recession, impacting foreign investments in the Gulf and delaying initial public offerings.
- The ongoing trade war is causing instability in global markets, with foreign investment in the Gulf expected to decline amid fears of a global recession.
74 Articles
74 Articles
How a US-China trade war could impact the Middle East
As Washington and Beijing wage an intense trade war, the economic consequences for the Middle East’s energy industry could be severe. Sending shockwaves through global markets, the mutual trade embargo has caused oil prices to drop to their lowest level since February 2021 due to fears of reduced demand. Launching economic hostilities against China last week, Washington imposed tariffs of 104% on Chinese goods. Beijing retaliated with 84% duties…
IEA to Oil Markets: ‘Buckle Up’
Current conditions: Breezy weather in Sarasota, Florida, is increasing today’s fire danger • Turin, Italy, is bracing for an April’s worth of rain in a single day • The aurora borealis may be visible over the northern U.S. tonight and tomorrow thanks to a geomagnetic storm. THE TOP FIVE1. IEA report moderates expectations of global oil demand The International Energy Agency released its monthly analysis of the global oil market on Tuesday, writ…
IEA cuts 2025 world oil demand growth forecast on trade tensions
Deteriorating outlook for the global economy amid the sudden sharp escalation in trade tensions in early April has prompted a downgrade to our forecast for oil demand growth this year, said the IEA in a monthly report.
IEA and OPEC say tariff uncertainty will slow growth in oil demand
The NewsThe International Energy Agency and OPEC downgraded their forecast for oil demand growth, citing the trade upheaval generated by US President Donald Trump’s tariffs.The IEA cut its expectations for oil demand growth for this year by about a third, and signalled that further revisions were possible depending on how Trump’s tariff policy evolves.“While imports of oil, gas, and refined products were given exemptions from the tariffs announc…
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