IEA Narrowly Lifts Oil-Demand Growth Outlook | Global News Avenue

this International Energy Agency On Thursday, forecasts for oil demand for 2025 increased slightly, and China continued to drive that growth, albeit at a smaller pace than it was in the past.

The Paris-based agency said on Thursday it expects global oil demand to grow by 1.1 million Bucket every day and 1.05 million b/d It predicted last month. By comparison, this figure has been revised for 870,000 b/d in 2024.

China’s share of oil demand growth has dropped to a portion of the past

The IEA said China’s oil demand has increased at a rate of “a small part of the recent trend, almost entirely driven by the petrochemical industry.” The IEA said that China’s share of global growth has dropped to 19% over the past decade, far from that, the IEA said. Less than 60%.

The IEA said it was too early to measure the impact of U.S. tariffs or increase sanctions on Iran and Russia.

US President Donald Trump imposed Tariff 10% Energy imports in Canada to the United States. The interest rate is below the 25% tax on all other commodities in Canada and Mexico. The tariffs have been pause One month.

Brent crude oil Futures traded at about $74 a barrel on Thursday, and West Texas Intermediate Futures are about $70.