Investing.com - Financial Markets Worldwide

IEA cuts 2019 estimate for oil demand growth on global economy worries

Published 14/06/2019, 09:00
IEA cuts 2019 estimate for oil demand growth on global economy worries

LONDON, June 14 (Reuters) - The outlook for oil demand
growth in 2019 has dimmed due to worsening prospects for world
trade, the International Energy Agency (IEA) said on Friday,
although stimulus packages and developing countries should boost
growth going into 2020.
The Paris-based IEA revised down its 2019 demand growth
estimate by 100,000 barrels to 1.2 million barrels per day
(bpd), but said it would climb to 1.4 million bpd for 2020.
"The main focus is on oil demand as economic sentiment
weakens ... The consequences for oil demand are becoming
apparent," the IEA said in its monthly oil report.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.