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LONDON — The International Energy Agency kept its 2024 global oil demand growth forecast unchanged on Tuesday but trimmed its 2025 estimate, citing the impact of a weakened Chinese economy on consumption.The report from the IEA , which advises industrialized countries, is the second this week to flag that a sluggish economy is likely to curb demand in China , the world's biggest oil importer and second biggest oil consumer.
"For now, supply is struggling to keep pace with peak summer demand, tipping the market into a deficit," the IEA said.World oil demand will rise by 950,000 barrels per day in 2025, the IEA said, down 30,000 bpd from the previous forecast. It left this year's growth forecast unchanged at 970,000 bpd.Outside the developed countries of the OECD, demand in the second quarter of this year was the slowest since the pandemic year of 2020, the IEA said.
International Energy Agency China Iea Opec
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