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IEA Revises 2025 Oil Demand Growth Forecast Amid Rising Trade Tensions

Updated: April 15, 2025 13:58

Image Source : The Edge Malaysia
The International Energy Agency (IEA) has announced a downward revision of its 2025 global oil demand growth forecast, citing escalating trade tensions and weaker-than-expected economic indicators. The agency now projects a demand increase of 1.3 million barrels per day (bpd) for 2025, marking a reduction of 150,000 bpd from its previous estimate.  
 
This adjustment reflects the impact of newly imposed trade tariffs and geopolitical uncertainties, which have introduced higher volatility into the global economic outlook. The IEA’s report highlights that these dynamics are likely to dampen economic activity, leading to a more cautious outlook on oil consumption.  
 
Key Highlights:  
  • - IEA cuts 2025 oil demand growth forecast by 150,000 bpd, now projecting an increase of 1.3 million bpd.  
  • - Trade tensions and newly imposed tariffs cited as primary factors influencing the revision.  
  • - The agency emphasizes the growing uncertainty in the global economic landscape.  
  • - Oil prices remain volatile, with Brent crude trading near $66 per barrel following the announcement.  
  • - The revised forecast underscores the need for diversified energy strategies amid shifting market dynamics.  
Sources: Economic Times, Oilprice.com, Telegraph India

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