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IEA slightly raises forecast for oil demand growth in 2025 and 2026

The International Energy Agency emphasized that in the Q1 of 2025, oil demand rose by 990,000 barrels per day

MOSCOW, May 15. /TASS/. Global oil demand is expected to increase by 740,000 barrels per day in 2025, reaching 103.9 mln barrels per day, and by 760,000 barrels per day in 2026, rising to 104.66 mln barrels per day, according to the May report from the International Energy Agency (IEA).

Thus, the forecast for this year has been raised by 20,000 barrels per day, and for next year by 70,000 barrels per day.

The IEA emphasized that in the Q1 of 2025, oil demand rose by 990,000 barrels per day. However, for the remainder of the year, the growth is expected to slow to 650,000 barrels per day amid global economic uncertainties and record electric vehicle sales.