Shafaq News/ The InternationalEnergy Agency (IEA) sharply cut its forecast for global oil demand growth in2025 by 300,000 barrels per day — nearly a third of its earlier estimate —citing rising economic headwinds led by the United States and China.
In its monthly report, the IEA saidthat the world’s two largest economies, both key drivers of global energyconsumption, were central to the revision as escalating trade tensions betweenWashington and Beijing weigh on global markets.
The agency also warned that theslowdown in demand growth would extend beyond 2025, with projections for 2026showing a further deceleration to just 690,000 barrels per day.
“Recent declines in oil prices havenot been sufficient to offset the effects of a weak and volatile economicenvironment,” the report stated.
The IEA’s downward revision comes aday after OPEC also trimmed its 2025 oil demand growth forecast to 1.3 millionbarrels per day.
