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International Business Times
International Business Times
Business

The IEA Had Already Reduced Its Oil Demand Forecast. It Has Done So Once More.

IEA Oil the International Energy Agency Donald Trump United States
The International Energy Agency said global oil demand is set to fall further than expected as key waterways through which a significant percentage of energy pass remain closed. (Credit: AFP via Getty Images)

The International Energy Agency (IEA) said global oil demand is set to fall further than expected as key waterways through which a significant percentage of energy pass remain closed.

The agency now said it expects global demand to drop by 1.6 million barrels a day, a 510,000 increase compared to the July forecast.

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