IEA predicts 1.6M bpd drop in oil demand
Data indicates that oil prices continue to rise, with the price of a barrel reaching a record-high of around $66. Expectations are for further increases until 2026, with projections suggesting it could reach $1.6 per barrel. Additionally, oil demand has hit new record levels, driven by increased consumption and forecasts that this trend will persist due to rising global demand and economic growth. Projections suggest that prices will remain high through 2026, supported by increased production and expanded investments in oil and gas to enhance supplies.
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