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The IEA reduces the oil demand outlook for 2019



An offshore oil platform.

Cavan Images | Cavan | Getty Images

Estimates of oil demand growth for both 2018 and 2019 have been cut, the International Energy Agency revealed in its latest report issued Wednesday.

Last year's growth estimate for oil demand has been downgraded by 70,000 barrels a day (kb / d) to 1.2 million barrels per day. day (mb / d), while the forecast for this year has been reduced by 90 kb / d to 1

.3 mb / d, IEA said.

The estimates come from global concerns over the US-China trade war and increased tensions in the Middle East, but can be attributed to a number of factors specific to the individual markets.

"The changes reflect less than expected 2018 data in large consumer countries such as Egypt, India, Indonesia and Nigeria," the report said, adding that the early data for this year showed demand in Brazil, China and Japan as below. Agency's discretion.


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