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Fundamentals

Demand: Growth Prospects Steady But Downside Risk Increases

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Global oil demand will grow by just under 1 million barrels per day in 2025 to 103.6 million b/d, or 969,000 b/d of additional consumption. ʶԳ's latest forecast is up 20,000 b/d from last month, reflecting slightly higher OECD demand in the first quarter. US tariffs, however, have created more downside risk. China still needs to resolve domestic problems, and India, which has now the fastest growing oil demand, faces demand pressures. And the US economy could slow to a crawl.

Topics:
Oil Demand, Oil Forecasts, Oil Prices, Oil Products
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