IEA raises its 2024 oil demand forecast but lags OPEC view

News Snapshot:

The International Energy Agency (IEA) has again raised its 2024 global oil demand growth forecast, though its projection remains lower than OPEC’s expectations, and said the market looked well supplied because of strong growth outside the producer group. The IEA and the Organization of the Petroleum Exporting Countries (OPEC) have clashed in recent years over issues such as future oil demand. The IEA expects oil demand to peak by 2030 as the world shifts to cleaner fuels, a view OPEC dismissed in an article on Wednesday. The IEA, which advises industrialized countries, on Thursday predicted global consumption will rise by...