oil demand forecast News

Crude Oil Prices Surge Over 1% Amid Gaza Conflict and OPEC+ Production Cuts

Crude oil prices surged over 1% as Gaza conflict tensions escalate and OPEC+ reports a production decline. Hamas rejects ceasefire, while OPEC lowers demand forecast, impacting glo...

Crude Oil Prices Surge Over 1% Amid Gaza Conflict and OPEC+ Production Cuts

Crude oil prices increased by over 1% as hopes for a Gaza ceasefire faded and OPEC+ announced a production cut. Hamas rejected Israel's ceasefire proposal, while Israel vowed not t...

Trade Tensions Lead IEA to Slash 2024-2025 Oil Demand Forecast

The IEA has marginally downgraded its oil demand growth forecast for late 2024 and early 2025 to around 1.2 mb/d, attributing the adjustment to emerging trade tensions following th...

OPEC Adjusts 2025 Oil Demand Forecast to 1.3M bpd Amid Global Economic Shifts

OPEC revises its 2025 global oil demand growth forecast down to 1.3 million bpd, citing Q1 data and US tariffs. OECD and non-OECD countries show varied growth rates, with a continu...

IEA Downgrades 2025 Oil Demand Outlook Amid Changing Global Dynamics

The International Energy Agency has adjusted its 2025 global oil demand growth forecast to 1.05 million bpd, citing factors like lower fuel prices and colder weather. It also expec...