Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Stay notified with free updates
Simply sign up Oil MEFT Digest – Directly delivered to your inbox.
Since the announcement of Donald Trump’s “Liberation Day”, the International Energy Agency has warned in its first forecast that the growth of oil demand this year is expected to rise rapidly this year due to the negative impact of US tariff on business.
Paris-based agency has cut off its expectations Oil This year, a more downward amendments were possible depending on how the US President’s customs program developed to 730,000b/D within about one -third of the 1.03MN barrel.
“Although the US -declared tariffs were exempted from importing oil, gas and refined products, these measures could stoke inflation, slow economic growth and intensify trade dispute over oil prices,” said it. “There is still discussion and counter -system, the situation remains liquid and enough risk.”
Price for Brent Crude, Global Benchmark, The barrel is submerged at the bottom of $ 60 Traders were pending for discussion with some tariff breaks for the first time last week for the first time last week for the first time in the four -year last week that traders had weighted the chances of the recess
Despite the break, which helped Brent to retrieve $ 67.84 dollars in London Tuesday morning, encouraging intense growth in trade tensions IEA To reduce its forecast to reduce economic growth estimates, it says.
As a result, annual demand growth will decrease further next year to 690,000b/D “low oil prices only partially offsets the weak economic environment”, it says in the first forecast of 2026.
The wonderful decision of eight OPEC+ members led by Saudi Arabia has added “the downward spiral of oil prices” in the first half of April, it says.
However, the impact of the supply was likely to be “much smaller” than the announced growth of 411,000b/D, because several OPEC+ members, including the Kazakhstan, the United Arab Emirates and Iraq, were already producing better than their target.
