IEA’s Influence on Oil Demand and Price Trends The International Energy Agency (IEA) is playing a pivotal role in shaping the bullish sentiment in the May West Texas Intermediate (WTI) crude oil market. Thursday’s upward revision for 2024 oil demand growth, marking the fourth adjustment since November, forecasts a tighter market with a demand rise of 1.
3 million barrels per day. This revised outlook, coupled with the impact of Houthi attacks disrupting Red Sea shipping, underscores the IEA's significant sway on market trends. U.S. Demand…Bullish Sentiment Builds After the IEA Boosts Demand Outlook
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