The International Energy Agency (IEA) has presented updated forecasts for the global oil market for 2025. According to new estimates, oil demand growth is expected to decrease by 20,000 barrels per day to 680,000 barrels per day. At the same time, the estimate of global oil supply growth was significantly increased by 370,000 barrels per day, reaching 2.5 million barrels per day.
Such adjustments in forecasts may be due to changes in the economic situation in key oil-consuming countries, adjustments to production plans of oil-producing countries, as well as the development of alternative energy sources and general economic factors affecting oil consumption in the world.