IEA Cuts Oil Demand Forecast As China’s Covid Crisis Continues ...Middle East

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IEA Cuts Oil Demand Forecast As China’s Covid Crisis Continues
source : OILPRICE ( Middle East ) () 25
Global oil demand is set to grow by 2 million barrels per day (bpd) this year, the International Energy Agency (IEA) said on Wednesday, revising down its growth estimate by 110,000 bpd from last month as it expects China’s oil demand to fall for the first time in more than three decades.   “Growth in global oil demand continues to decelerate, weighed down by renewed Chinese lockdowns and an ongoing slowdown in the OECD,” the Paris-based agency said in its closely-watched Oil Market Report on Wednesday.   The slowdown…

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