IEA lowers 2025 global oil demand growth forecast amid economic uncertainty

The International Energy Agency (IEA) on Wednesday lowered its forecast for global oil demand growth in 2025 to just over one million barrels per day, down by 70,000 from its previous estimate.

The Paris-based global energy watchdog attributed the revision to downside risks from U.S. tariff threats and broader macroeconomic uncertainties. 

The agency now expects global oil demand to reach 103.9 million barrels per day in 2025, with Asia accounting for nearly 60 percent of the gains, driven by China's petrochemical sector.

Weaker-than-expected delivery data also led to slightly lower estimates for year-on-year demand growth in the fourth quarter of 2024 and the first quarter of 2025, now projected at 1.2 million barrels per day, the IEA said in its latest report.

IEA lowers 2025 global oil demand growth forecast amid economic uncertainty

China on Tuesday sent the Yaogan-50 01 remote sensing satellite into space.

Launched at 22:16 (Beijing Time) aboard a modified version of the Long March-6 rocket, the satellite has entered planned orbit, according to the Taiyuan Satellite Launch Center.

It will be used for national land surveys, crop yield estimation, and disaster prevention and mitigation.

The launch was the 624th flight mission undertaken by the Long March rocket series and marked China's first successful orbital launch of 2026.

China opens 2026 space mission schedule with successful satellite launch