:max_bytes(150000):strip_icc()/GettyImages-2159625529-cd5efd09ff2847d3955ab4469bd25d45.jpg?w=1920&resize=1920,1267&ssl=1 "IEA Trims Oil-Demand Outlook on Tariffs a Day After OPEC Does")
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key takeaways
- The International Energy Agency on Tuesday year cut its launch to increase the demand for oil and convicts the toll on the global economy with the tariff of the next President Donald Trump.
- This step follows the cut by OPEC tomorrow to forecast the demand for its oil demand.
- IEA said that it made new forecasts after reducing its perceptions for economic development.
The International Energy Agency on Tuesday year cut its launch to increase the demand for oil and convicts the toll on the global economy with the tariff of the next President Donald Trump.
The agency stated that it is reducing its forecast to increase oil demand this year, 730,000 barrels (B/D) per day, a decline of 300,000 barrels per day vs. 300,000 barrels per day. It also said that the increase in demand for 2026 oil will slow down, 690,00 barrels per day. The agency said that it made new forecasts after reducing its perceptions for economic development.
Dowgrade petroleum produces the forecast of the demand for much less oil than the organization of the exporting countries (OPEC). OPEC also cut its estimates yesterday due to the weight tariff on economic growth.
IEA said on Tuesday that “with hard trade talks during the 90-day time on tariffs and possibly beyond, the oil markets are for a bumpy ride and this year and the next have great uncertainties hanging on our forecasts for the next.”
Both Brent and West Texas Intermediate Crude Futures were slightly lower in recent trading.
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