Although it believes that supply is growing faster, the IEA expects the oversupply in the oil market to narrow, with Russia being the key...
The IEA raised its forecast for global oil demand growth in 2025 from 990,000 barrels per day to 1.10 million barrels per day.
International Energy Agency (IEA): Global oil supply will increase by 660,000 barrels per day in 2024 and 2.10 million barrels per day in 2025.
International Energy Agency (IEA): Oil demand growth fell to the lowest level since the epidemic.
The IEA's monthly crude oil market report will be released in ten minutes.