Suppliers

IEA cuts oil-demand forecast but sees market tightening on Iran

Global oil demand will grow more slowly than previously thought following an economic lull in Asia, the International Energy Agency said, while warning that supplies stand to tighten due to US sanctions on Iran.
Photo: Ritzau Scanpix/Morteza Nikoubazl
Photo: Ritzau Scanpix/Morteza Nikoubazl
BY BLOOMBERG NEWS, GRANT SMITH

Disappointing fuel consumption in China, Japan and Brazil meant 2019 started with a "tough quarter", the agency said, lowering its global demand estimate for the first time since October. As a result, world oil inventories surprisingly swelled during the first three months of the year.

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