LONDON—Oil slipped on Friday as a forecast of slowing demand by the International Energy Agency offset support from geopolitical tensions and hopes that the U.S. Federal Reserve might cut interest rates sooner than expected.
Weighing on sentiment, the IEA said on Thursday that global oil demand growth was losing momentum and it trimmed its 2024 growth forecast, in contrast to the view held by the Organization of the Petroleum Exporting Countries (OPEC).
