International Energy Agency Cuts Global Oil Demand Forecast for 2024
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The International Energy Agency has reduced its forecast for global oil demand this year by 334,000 barrels per day. The Paris-based organization, which advises developed nations on energy policy, lowered its projection amid concerns about global economic growth and energy consumption patterns. The downward revision reflects ongoing uncertainty in global energy markets and suggests weaker than previously expected demand for crude oil in 2024.