The International Energy Agency (IEA) on Tuesday (April 15, 2025) sharply minimize its forecast for the growth in international oil demand this 12 months resulting from escalating trade tensions, a day after the same transfer by producer group OPEC.
“The 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,” the IEA, which advises industrialised nations, stated in a month-to-month report.
“Growth is expected to slow further in 2026, to 690,000 bpd, as lower oil prices only partly offset the weaker economic environment.”
Published – April 15, 2025 04:12 pm IST
