International Energy Agency downgraded global oil demand growth expectations

The Paris-based International Energy Agency (IEA) released its monthly crude oil market report on the 15th, cutting its global average daily oil demand growth forecast by 90,000 barrels to 1.3 million barrels in 2019.

The report predicts that global oil demand will average 100.4 billion barrels per day in 2019.

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The report said that the global crude oil supply is facing great uncertainty due to the US sanctions on Iran and Venezuela, the situation in Libya and the pollution of Russian oil pipelines to Europe.

The report shows that in April this year, the world’s average daily oil supply fell by 300,000 barrels to 99.3 million barrels. Among them, Canada, Kazakhstan, Azerbaijani and Iran experienced the largest decline in supply.

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