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Oil is getting cheaper amid lower demand forecast from the IEA

August, 13 2025

On Wednesday afternoon, oil prices moved lower after the International Energy Agency lowered its forecast for global demand. October futures for Brent on ICE decreased by $0.36 (0.54%) to $65.76 per barrel, September WTI on NYMEX – by $0.46 (0.73%) to $62.71.The IEA now expects global oil demand to grow by 685 thousand b/d in 2025 against the July estimate of 704 thousand b/d. At the same time, the supply forecast was increased by 370 thousand b/d to 105.5 million b/d, mainly due to the revision... Read More

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