IEA Raises Oil-Demand Growth View and Cuts Supply Forecast

Thursday, 14 March 2024, 09:52

The International Energy Agency has revised its oil-demand growth forecast upward due to positive developments in the U.S. and increased bunkering activities. However, the agency has reduced estimates for global oil supply amid decreased output projections from OPEC+ countries. This change in forecasts suggests a shift in the supply-demand dynamics within the oil market, impacting various stakeholders.

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IEA Raises Oil-Demand Growth View and Cuts Supply Forecast

The International Energy Agency has revised its oil-demand growth forecast upward due to positive developments in the U.S. and increased bunkering activities. However, the agency has reduced estimates for global oil supply amid decreased output projections from OPEC+ countries.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.