IEA slightly lowers estimates for global oil demand growth in 2025 and 2026

Global oil demand in 2025 will grow by 724,000 bpd compared to last year, Report informs referring to Interfax citing the monthly report of the International Energy Agency (IEA).

In May, the Agency predicted growth at the level of 741,000 bpd. Thus, analysts lowered the forecast by 17,000 bpd.

Assessment of oil demand growth by the end of next year also‌‌‌‌​​‌​‌‌​‍‌‌‌‌​​‌‌​​‌‍‌‌‌‌‌​​‌‌‌‌‌​​‌‌‌‌‌‌‌‌‌​​​‌‌‌‌‌‌‌‌‌​​​‌​‌ was symbolically lowered: from 760,000 bpd in the previous report to 739,000 bpd this year.‍‌‌‌‌‌​​​‌​‌‍‌‌‌‌​‌‌​‌‌​‌‌​‌‌‌‌​​‌‌‌‌‌‌‌‌‌​​‌‌‌‌‌‌‌‌‌​​​‌

​​The IEA has revised its overall oil demand data downwards: in 2024, it is now estimated at 103.04 million bpd (May estimate - 103.16 million bpd), in 2025 - 103.76 million bpd (previous estimate - 103.9 million bpd), in 2026 - 104.5 million bpd (previous estimate - 104.66 million bpd).