Oil Market Stability: IEA's 2025 Outlook

The International Energy Agency (IEA) predicts a well-supplied oil market in 2025, despite OPEC+ extending supply cuts. A modest increase in global oil demand growth is expected, driven by Asian countries influenced by China's recent economic stimulus measures, with demand forecasted at 1.1 million barrels per day.

The International Energy Agency (IEA) has projected a steady supply of oil by 2025. This announcement comes even as OPEC+ extends its oil supply cuts, which might have otherwise hinted at tighter conditions.

The IEA has adjusted its global oil demand growth forecast for 2025 upwards to 1.1 million barrels per day, a slight increase from its prior estimate of 990,000 barrels per day. This rise is attributed to growing demand in Asian countries, spurred by recent economic stimuli from China.

The agency's monthly oil market report provides a reassuring outlook for industry stakeholders, emphasizing the balancing act between supply adjustments and rising demand fueled by economic recovery across the Asia-Pacific region.

(With inputs from agencies.)