EIA revises down its forecast for 2019 global oil demand

Eren Sengezer FXStreet

In a recently published report, the U.S. Energy Information Administration has announced that it decreased its global oil demand growth estimate for 2019 by 10,000 barrels per day to 1.72 million bpd. The EIA also revised its 2018 oil demand growth upwards by 40,000 barrels to 1.80 million bpd.

There wasn't a clear market reaction to the EIA's report and the barrel of West Texas Intermediate was last seen trading at $66.45, where it was up 35 cents, or 0.53%, on the day.

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Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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