16 hours ago
World oil market looks well supplied in 2025, IEA says
LONDON- The world oil market looks well supplied this year in the absence of a major disruption, the International Energy Agency said on Tuesday, as it raised its forecast for supply growth while trimming that for demand.
In a monthly report, the IEA said world oil demand will rise by 720,000 barrels per day this year, down 20,000 bpd from last month's forecast, while supply will increase by 1.8 million bpd, up 200,000 bpd from last month's estimate.
"In the absence of a major disruption, oil markets in 2025 look well supplied," the agency said in a commentary on the market impact of Iran's conflict with Israel.
(Reporting by Alex Lawler and Enes Tunagur, Editing by Barbara Lewis)
