Mumbai, Oct. 14 -- The International Energy Agency or IEA stated in a latest monthly update today that global oil demand rose by 750 thousand barrels per day (kb/d) y-o-y in 3Q25, as petrochemical feedstocks led a rebound from 2Q25's tariff-afflicted 420 kb/d pace. IEA noted that oil use will remain subdued over the remainder of 2025 and in 2026, resulting in annual gains forecast at around 700 kb/d in both years. This is well below historical trend, as a harsher macro climate and transport electrification make for a sharp deceleration in oil consumption growth.
Total global oil supply rose by 760 kb/d m-o-m, to 108 million barrels per day (mb/d) in September, as OPEC+ production surged by 1 mb/d led by the Middle East. World oil supply is...