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IEA warns global oil demand may suffer as crude nears US$80


  • Oil & Gas
  • Wednesday, 16 May 2018

FILE PHOTO: Oil and gas company Statoil drilling and accommodation platform Sleipner A is pictured in the offshore near the Stavanger, Norway, February 11, 2016. REUTERS

FILE PHOTO: Oil and gas company Statoil drilling and accommodation platform Sleipner A is pictured in the offshore near the Stavanger, Norway, February 11, 2016. REUTERS

LONDON: Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday.

The Paris-based IEA cut its forecast for global demand growth to 1.4 million barrels per day for 2018, from a previous estimate of 1.5 million bpd.

Oil & Gas , Markets

   

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