IEA cuts the 2025 world oil demand growth forecast to 730k b/d from 1.03 m b/d

Dhwani Mehta FXStreet

In its monthly oil market report published on Tuesday, the International Energy Agency (IEA) cut the 2025 world oil demand growth forecast to 730k barrels per day (b/d) from 1.03 million b/d.

Additional takeaways

2026 world oil demand growth forecast seen at 690k b/d.
Global oil supply rose in March by 910k b/d YoY to 103.61
Non-OPEC+ accounted for 890k b/d of March supply increase.
Global 2026 oil supply to add 950k b/d, exceeding demand.
Non-OPEC+ to add 1.3m b/d in 2025 to 54.4m, led by US
Non-OPEC+ supply seen robust in 2026 adding 920k b/d.
OPEC March crude output fell 150k b/d to 41.6m b/d.

Market reaction

Following the downbeat report, WTI remains 0.16% lower on the day near $61.

(This story was corrected on April 15 at 09:31 GMT to say that "In its monthly oil market report published on Tuesday," not Thursday.)

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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