In the absence of major disruption, oil markets in 2025 look well supplied – IEA

• In reference to Israel-Iran conflict, in the absence of major disruption, oil markets in 2025 look well supplied.
• Trims 2025 world oil demand growth forecast to 720,000 barrels per day (prev. 740,000 bpd).
• Lowers 2026 average oil demand growth forecast to 740,000 bpd (prev. 760,000 bpd) citing challenging economic outlook and cleaner energy uptake.
• World oil supply to rise by 1.8 million bpd in 2025 (prev. 1.6 million bpd rise).
• Global oil demand to plateau around 105.5 million bpd by end of this decade.
• US oil demand in 2030 will be 1.1 million bpd higher than previous forecast due to lower gasoline prices, loss of momentum in EV adoption.

Even if they are done from professional forecasters, always take them with a pinch of salt as economic conditions can change and make previous forecasts outdated.

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This article was written by Giuseppe Dellamotta at www.forexlive.com.