IEA Lowers Oil-Demand Growth Forecasts

By Anonymous

Agency the trade dispute between China and the U.S. could have a knock on effects for oil demand

LONDON—Global oil demand will grow at a slower pace than expected this year and next amid economic risks stemming from trade tensions and higher oil prices, the International Energy Agency said Friday.

In its closely watched monthly oil-market report, the Paris-based organization lowered its oil-demand growth forecasts for 2018 and 2019 by 110,000 barrels a day to 1.3 million barrels a day and 1.4 million barrels a day, respectively.