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Oil Demand Growth Expected to Slow, IEA Claims

Global oil demand is expected to slow down over the next few years, the International Energy Agency (IEA) predicted in its medium-term outlook. The agency attributes the demand dropoff to the transition toward renewable energy, spurred by high prices and Russia's invasion of Ukraine. The...

IEA Expects Record Oil Demand and Surging Prices in 2023

According to a new report by International Energy Agency, oil demand will hit a new record this year, resulting in surging prices of crude oil. The IEA’s report predicts that the demand will come close to 102 million barrels per day in 2023, which is...