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International Energy Agency oil industry and markets division head Toril Bosoni discusses the outlook for 2025 production as the agency sees oil markets face a smaller surplus this year than previously expected amid stronger demand and new risks to supply. “With Russian and Iranian supply at risk of disruption, there may be room for OPEC to unwinds cuts as they have signaled that they plan to do in 2025,” Bosoni told Bloomberg's Francine Lacqua.
The International Energy Agency has revised its global oil demand outlook slightly for 2025, projecting growth of 1.05 million barrels per day, down from the previously estimated 1.1 million barrels daily.
The International Energy Agency slightly lowered this year's global oil-demand outlook, but said it still expects growth to accelerate on lower prices and an improving economic outlook in developed countries.
Oil edged lower in early Asian trade as traders digested the IEA monthly report that said that the current market balance still indicated a 950,000 barrels a day supply surplus next year.
Oil prices face mixed signals: China's easing policies boost demand hopes, but IEA forecasts a 950,000 bpd surplus challenging OPEC+ strategies.
Oil rose in early Asian trade. Oil has priced in a little geopolitical risk premium on the tightening of sanctions against Russia by the U.S. while prospects of a Fed rate cut may also be boosting market sentiment, ANZ Research said.
Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Zambia, featuring details of key growth drivers. Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Zambia, featuring details of key growth drivers.
The supply of oil and gas will be plentiful, with oil markets being "comfortable" this year and next unless major geopolitical escalation happens, the head of the International Energy Agency (IEA) Fatih Birol told a conference in Norway on Tuesday.
Investors interested in the sector could benefit from focusing on resilient stocks like EOG Resources, ExxonMobil and Devon Energy.
Toril Bosoni, head of the oil industry and markets division at IEA, discusses the organization's latest oil market report.