Global oil demand cut down amid US tariff uncertainties: Report
Global oil demand growth has been revised downwards for 2025 due to the uncertainty surrounding the US trade policy and supply surplus, according to an analysis by S&P Global Commodities. Oil demand is expected to average 750,000 barrels per day (bpd) this year, down 500,000 bpd from its previous forecast, the analysis found. The average price forecast for Brent is mid-to-low $60 per barrel and low $60 for West Texas Intermediate (WTI), S&P Global Commodities.
According to the analysis, any increase in output by OPEC+ will be an additional downside risk.
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