IEA raises 2025 oil demand forecast slightly amid softer trade tensions and lower prices

The IEA has marginally increased its 2025 global oil demand growth forecast to 740,000 bpd, up from 730,000 bpd, citing easing trade tensions and lower crude prices. While US tariffs initially sparked economic concerns, subsequent pauses have improved the outlook. Despite this, macroeconomic uncertainty persists, impacting consumer and business sentiment.