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IEA Reduces Forecast for Global Oil Demand Growth London, 15 Apr (ONA) — The International Energy Agency (IEA) has
significantly reduced its forecast for global oil demand growth in
2025, attributing the revision to escalating trade tensions, a day
after a similar move by the Organization of the Petroleum Exporting
Countries (OPEC).
In its monthly report, IEA stated that the deteriorating outlook for
the global economy, amid the sharp and unanticipated escalation in
trade tensions in early April 2025, has prompted a downward revision of
its forecast for oil demand growth this year.
It projected that growth would decelerate further in 2026 to 690,000
barrels per day, noting that the decline in oil prices has only
partially offset the impact of a weakened economic environment.— Ends/Khalid
