Something went wrong with the connection!
 Breaking News

IEA forecasts lower growth in oil demand for 2018, 2019

IEA forecasts lower growth in oil demand for 2018, 2019
October 12
16:56 2018

PARIS: The International Energy Agency on Friday revised lower its growth forecast in global oil demand for 2018 and 2019, citing high prices, trade tensions and a less favorable economic outlook.

The estimated growth in global demand has been reduced by 110,000 barrels per day for each of the two years.

This growth is expected to be 1.3 million bpd this year, then 1.4 million bpd in 2019.

“This is due to a weaker economic outlook, trade concerns, higher oil prices and a revision to Chinese data,” the IEA said in a statement in its monthly oil report.

“Expensive energy is back, with oil, gas and coal trading at multi-year highs, and it poses a threat to economic growth,” particularly for emerging economies, it warned.

“The global economy is also at risk from trade disputes,” it added.

“Our revised demand outlook reflects these concerns.”

The IAE warned that recent peaks in supply and demand have put a strain on spare capacity.

“This strain could be with us for some time and it will likely be accompanied by higher prices, however much we regret them and their potential negative impact on the global economy.” AFP

Comments

comments

Related Articles

ADVERTISEMENT

ADVERTISEMENT

IMPORTANT

Please disable your ad blocker to view this site at it’s best, we do not display spam advertisements (Popups & full Page Ads) or any explicit material.
Advertisements serve as a minor source of income for maintaining the website.
Thanks

Submit Feedback – Website Department 

50 SPIRITUAL APPETIZERS – VINOD DHAWAN

50-ad-Indiapost

It’s a lovely book. It feels energetically clear and light. It’s easy to read, dip in and out and most importantly it offers information without fluff! Blessings on this project.

Jac O’Keeffe
Spirituality teacher based in USA.

*Available on Amazon, Flipkart & other online stores*

Follow us on twiter



Polls

Will PM Narendra Modi now show some humility?

View Results

Loading ... Loading ...


E-paper

POPULAR CATEGORIES

Subscribe To Our Mailing List

Enter your email address:

Delivered by FeedBurner

Subscribe to IndiaPost by Email

Facebook

Download Media Kit