Energy agency lowers world oil demand forecast for the year
The International Energy Agency has lowered its global oil demand forecast due to higher fuel prices, supply limitations, and economic pressures from regional conflict. Diesel demand is falling sharply, and while production increased in September led by Gulf nations, overall supply is expected to decline before recovering next year. Volatile prices persist amid geopolitical instability, and recent U.S. diesel transactions are unlikely to significantly reduce consumer costs.
Surely it will recover next year since Mother Russia will have all their refineries rebuilt and Hormuz will be wide open and the Saudis and Houthis will kiss and make up so the world can get back to the regularly scheduled Happy Motoring.🙄
RE