Mumbai, Sept. 12 -- International Energy Agency or IEA stated in a latest monthly update that global oil demand is forecast to increase by 740 thousand barrels per day or kb/d y-o-y in 2025, up marginally from last month's Report, with resilient deliveries in advanced economies contrasting with relatively muted consumption in emerging economies. OECD demand growth of 80 kb/d y-o-y in 1H25 has exceeded expectations, supported by lower oil prices, but is forecast to move into contraction in the remainder of the year, leaving 2025 annual oil use broadly flat.
Global oil supply inched up in August to a record 106.9 million barrels per day or mb/d as OPEC+ continued unwinding output cuts and non-OPEC+ supply hovered near all-time highs. World o...