Oil Edges Higher With Trade Policy and Demand Signals in Focus

Oil Edges Higher With Trade Policy and Demand Signals in Focus

Oil ticked higher after a two-day drop, as traders assessed signs of near-term market strength ahead of US inventory figures.

Global oil demand slows

The IAE anticipates global oil demand to grow by 700,000 barrels per day this year.That would be the slowest annual increase since the 2008 global financial crisis (excepting the pandemic), with the contraction particularly acute in emerging markets, the IEA reported. It may be too soon to blame the slowdown entirely on Trump administration tariffs, but they are likely an important contributor, the IEA said. Oil prices, already relatively low be…

IEA surprises with significantly higher oil production from Saudi Arabia – Commerzbank

The post IEA surprises with significantly higher oil production from Saudi Arabia – Commerzbank appeared on BitcoinEthereumNews.com. The International Energy Agency has slightly lowered its forecasts for oil demand. It expects an increase of 700,000 barrels per day for this year and next. This is the smallest increase since the slump in 2020 during the coronavirus pandemic. However, the most attention was drawn to the IEA’s report of a sharp inc…