IEA lowers global oil demand forecast for 2024 to 1.1 million bpd

The International Energy Agency (IEA) has revised its global oil demand forecast for 2024, reducing it by 140,000 barrels per day (bpd) to 1.1 million bpd, according to the agency’s May outlook released on Wednesday. The IEA attributed this downward adjustment to sluggish industrial activity and a milder winter, which have dampened gasoil consumption, especially […]