Baku: The International Energy Agency (IEA) has revised its forecast for the growth rate of daily global oil demand for the years 2025 and 2026, reducing its previous estimates, APA-Economics reports, citing International Energy Agency (IEA).

According to Azeri-Press News Agency, the IEA’s report indicates that global oil demand in 2025 is expected to increase by 680,000 barrels per day. This figure represents a decrease of 20,000 barrels from the previous forecast of 700,000 barrels.

Similarly, the agency has adjusted its forecast for 2026, reducing the expected demand growth by 20,000 barrels to a total of 700,000 barrels per day.

The report notes that the downward revision for this year is attributed to weaker-than-expected demand in countries outside the Organization for Economic Cooperation and Development (OECD).