Doha: The International Energy Agency (IEA) announced Friday in its monthly report a downward revision of global oil demand growth forecasts. The agency now expects demand to increase by 700,000 barrels per day in 2025, and by 720,000 barrels per day in 2026, citing signs of weakening consumption over recent months.
According to Qatar News Agency, the IEA has simultaneously raised its projections for oil supply growth during the current year, following a recent decision by the OPEC+ alliance to ramp up crude production. Global oil output is expected to rise by 2.1 million barrels per day in 2025, an upward adjustment of 300,000 barrels per day compared to earlier estimates.