IEA trims oil demand outlook ...News

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IEA trims oil demand outlook
The energy watchdog has cited a deepening manufacturing slump in wealthy states The International Energy Agency (IEA) has cut its oil demand forecast for the first time this year, citing “persistent” economic headwinds in wealthy countries. The IEA said global demand will not grow as fast in 2023 as previously expected, and will increase by 2.2 million barrels per day (bpd), or about 2%, to reach an average of 102.1 million bpd. The figure is around 220,000 barrels less than last month’s forecast.  “World oil demand is coming under pressure from the challenging economic environment, not least because of the dramat

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