The International Energy Agency (IEA)<\/strong> has revised its oil demand growth estimates<\/strong> for Q4 2024 and Q1 2025<\/strong>, citing worsening macroeconomic conditions<\/strong> driven by global trade tensions<\/strong>.<\/p>\n\n\n\n The agency now expects global oil demand to increase by 1.03 million barrels per day (bpd)<\/strong> in 2025, down from the previous 1.1 million bpd forecast<\/strong>. This brings the total average daily demand<\/strong> to 103.9 million bpd<\/strong>.<\/p>\n\n\n\n However, the IEA\u2019s forecast is significantly lower<\/strong> than OPEC\u2019s<\/strong> projection of a 1.45 million bpd<\/strong> increase.<\/p>\n\n\n\n The IEA now projects that global oil supply<\/strong> will exceed demand by approximately 600,000 bpd<\/strong>\u2014a larger surplus than previously estimated.<\/p>\n\n\n\n Additionally, if OPEC+ raises output beyond April<\/strong> and compliance among over-producing members remains weak, an extra 400,000 bpd<\/strong> could enter the market.<\/p>\n\n\n\n The IEA<\/strong> has expressed concerns over the impact of new U.S. tariffs<\/strong> on global trade<\/strong> and economic growth<\/strong>. The agency highlighted the uncertainty<\/strong> surrounding potential retaliatory actions<\/strong>, which could further dampen oil demand growth<\/strong>.<\/p>\n\n\n\n The IEA warned that a scenario of stagflation<\/strong>\u2014characterized by slow economic growth<\/strong> alongside rising prices<\/strong>\u2014could make it more difficult for policymakers to intervene<\/strong>, further pressuring oil demand<\/strong>.<\/p>\n\n\n\n Total global oil supply is projected to average 104.5 million bpd<\/strong>, with non-OPEC+ producers contributing an additional 1.5 million bpd<\/strong>.<\/p>\n\n\n\n With weaker demand growth<\/strong> and rising supply<\/strong>, oil prices could remain under pressure in the coming months<\/strong>, particularly if economic conditions continue to deteriorate<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":" The International Energy Agency (IEA) has revised its oil demand growth estimates for Q4 2024 and Q1 2025, citing worsening macroeconomic conditions driven by global trade tensions. Revised Oil Demand Forecasts The agency now expects global oil demand to increase by 1.03 million barrels per day (bpd) in 2025, down from the previous 1.1 million …<\/p>\n","protected":false},"author":9,"featured_media":32660,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[10566,6846,7004,6875],"class_list":["post-112784","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-manufacturing-activity","tag-oil","tag-opec-2","tag-russia"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=112784"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112784\/revisions"}],"predecessor-version":[{"id":112785,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/112784\/revisions\/112785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32660"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=112784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=112784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=112784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Revised Oil Demand Forecasts<\/strong><\/h3>\n\n\n\n
Current Oil Market Conditions<\/strong><\/h3>\n\n\n\n
\n
Oil Supply Expected to Outpace Demand<\/strong><\/h3>\n\n\n\n
Trade Tensions and Economic Risks<\/strong><\/h3>\n\n\n\n
Stagflation Risks in 2025<\/strong><\/h3>\n\n\n\n
Oil Supply Outlook for 2025<\/strong><\/h3>\n\n\n\n
Market Outlook: Oil Prices Under Pressure<\/strong><\/h3>\n\n\n\n