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Global oil demand growth to slow: IEA
Mint Mumbai
|May 16, 2025
Global oil demand will rise more slowly for the remainder of 2025 due to economic headwinds combined with record sales of electric vehicles, the International Energy Agency (IEA) said on Thursday, as rising supply from planned Opec+ output hikes keeps the market in surplus.
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Lower oil prices stemming from trade tensions and rising output are impacting US shale output growth, while also curbing Russian oil revenue, the IEA, which advises industrialized countries, said in its monthly oil market report.
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