Economic headwinds and record electric vehicle sales are set to materially slow down global oil demand growth for the rest of the year, the International Energy Agency (IEA) said on Thursday. World oil demand rose by 990,000 barrels per day (bpd) in the first quarter of 2025. But the remainder of the year will see demand growth at just 650,000 bpd, the agency said in its closely-watched monthly Oil Market Report for May.
Concerns about economic growth and record sales of EVs are set to dent global oil demand growth for the rest of the…IEA Sees Oil Demand Growth Slowing on Economic Headwinds
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