IEA trims oil-demand forecast for third consecutive month

Demand for oil is slowing as China's economy eases. (Image: Getty)

Wed, 16 Oct 2024

By Giulia PetroniThe International Energy Agency trimmed its forecast for this year’s oil demand growth for the third month in a row as a rapid slowdown in Chinese consumption weighs on the global outlook.The Paris-based organisation forecasts global demand to grow by 862,000 barrels a day this year from 903,000 barrels a day previously, while growth estimates for next year were raised slightly to 998,000 barrels a day from 954,000 barrels a day.This marks a sharp slowdown from the roughly 2 million barrels-a-day growth over the 2022-2023...

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