IEA Trims 2025 Oil Demand Outlook as China Offsets Global Gains

OIL AND GAS - LONDON. The International Energy Agency (IEA) 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 industrialised 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.