Global oil demand is slowing down, and the EIA revises its forecast downward due to the slowdown in the Chinese economy
2024/8/7 5:41 JST (some excerpts)
The U.S. Energy Information Administration (EIA) indicated the forecast that global oil demand will slow down next year. There is a growing view that oil demand will decline due to China's economic slowdown.
According to the monthly report released by the EIA on the 6th, global crude oil consumption in '25 is expected to be around 145 million barrels per day. This is a downward revision of 0.2 million barrels from the previous forecast. The demand growth rate forecast was also revised downward to 1.6%. Concerns about a slowdown in the Chinese economy are in the background of this downward revision.
The U.S. Energy Information Administration (EIA) indicated the forecast that global oil demand will slow down next year. There is a growing view that oil demand will decline due to China's economic slowdown.
According to the monthly report released by the EIA on the 6th, global crude oil consumption in '25 is expected to be around 145 million barrels per day. This is a downward revision of 0.2 million barrels from the previous forecast. The demand growth rate forecast was also revised downward to 1.6%. Concerns about a slowdown in the Chinese economy are in the background of this downward revision.
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