MOSCOW, July 11 — The International Energy Agency (IEA) has downgraded its forecast for global oil demand growth in 2025 to 700,000 barrels per day — the lowest annual demand growth since 2009, excluding the crisis year of 2020.
It said it expects demand at 103.68 million barrels per day (mb/d), the organisation said in its fresh report today, reported Sputnik/RIA Novosti.
“Global oil demand is set to increase by 700 thousand barrels per day year-on-year in 2025 — the lowest growth rate since 2009, excluding the Covid-affected year of 2020.
“This is slightly below the estimate in last month’s report, mainly due to weaker-than-expected deliveries reported for the second quarter of 2025, which rose by just 550 kb/d y-o-y, half of the 1.1 mb/d growth recorded in the first quarter,” the report stated.
— Bernama
