Macroeconomics

IEA Trims 2025 Oil Demand Outlook as China Offsets Global Gains

August 13, 2024, 06.10 PM | Source: Reuters

ILUSTRASI. An oil pump of IPC Petroleum France is seen at sunset outside Sommesous, near Reims, France, February 28, 2022. REUTERS/Pascal Rossignol

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.

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