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Global Oil Markets Could See Glut in 2025 on Slowing Demand Growth: IEA

The International Energy Agency said China’s economic slowdown could affect worldwide consumption levels.
Global Oil Markets Could See Glut in 2025 on Slowing Demand Growth: IEA
A maze of crude oil pipes and valves at the Strategic Petroleum Reserve during a tour by the Department of Energy in Freeport, Texas, on June 9, 2016. Richard Carson/Reuters
Andrew Moran
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Global crude oil markets could face a surplus of more than 1 million barrels per day (bpd) in 2025, resulting in a worldwide supply glut, the International Energy Agency (IEA) said in a new report.

The Paris-based organization adjusted its oil demand growth projections on Nov. 14, saying that China’s economic slowdown could affect worldwide consumption levels.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."