(Oil Price) – Economic headwinds and record electric vehicle sales are set to materially slow down global oil demand growth for the rest of the year, the International Energy Agency (IEA) said on Thursday. World oil demand rose by 990,000 barrels per day (bpd) in the first quarter of 2025. But the remainder of the year will see demand growth at
Yahoo Finance HOUSTON (Reuters) -Oil prices dipped during the first session of 2024, with economic headwinds from interest rate jitters unraveling gains from worries that tensions in the Red Sea could disrupt supplies. Brent crude was down 62 cents, or 0.8%, to $76.42 a barrel at 12:01 p.m. ET (17:01 GMT). U.S. West Texas Intermediate crude was down 72 cents,
Nasdaq LONDON – Oil demand is set to hit a record high this year and the market is tightening but economic headwinds and interest rate hikes have deflated growth expectations slightly, the International Energy Agency (IEA) said on Thursday. Still, the Paris-based energy watchdog sees demand growth next year rising by more than anticipated despite the rise being less than
CNBC Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 despite a sluggish economic outlook. Brent crude futures was up 66 cents to $78.35 a barrel and U.S. West Texas Intermediate crude was up 71 cents at $73.70. Supply cuts by top exporters Saudi Arabia and Russia for August helped to lift the benchmark
CNBC Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer. Brent crude was up by 38 cents, or 0.88%, at $43.32 a barrel. On Thursday, Brent closed down 1.9% but had recovered much of
