IEA raises oil demand growth forecast
The International Energy Agency (IEA) raised its forecasts for oil demand growth, projecting higher figures for both the current and upcoming years. Meanwhile, refinery output projections remain largely consistent with last month's report.
In its May report published today, May 15, the agency increased its forecast for oil demand growth in 2025 by 20,000 barrels per day (bpd), bringing the total to 740,000 bpd. Similarly, the 2026 forecast has been raised to 760,000 bpd, up from the previously estimated 690,000 bpd.
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