Paris: The International Energy Agency (IEA) said in a monthly oil market report today that the global oil supply could exceed demand by around 600,000 barrels per day this year (2025), after a downward revision to its 2025 demand growth forecast.
According to Oman News Agency, the IEA lowered its 2025 oil demand growth forecast by 70,000 barrels per day to about 1 million barrels per day, with Asia, particularly the Chinese petrochemical industry, contributing significantly to this growth.