The IEA this week revised up its outlook for global oil demand growth this year and next, citing improvements to the macroeconomic and trade outlooks. Demand growth for this year is up 50,000 b/d to 830,000 b/d and for next year it’s up 90,000 b/d to 860,000 b/d.
Despite these revisions, the IEA’s demand outlook remains much more cautious than Opec’s which left its 2025 and 2026 growth expectations unchanged at 1.30mn b/d and 1.38mn b/d respectively. As per usual, the EIA splits the difference on 1.14mn b/d and 1.23mn b/d. (CONTINUED - 323 WORDS)
