IEA says oil market ‘walking a tightrope’ as rising prices drive down demand

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

South Africa News News

Higher prices and worsening economic conditions are already taking a toll on demand

A crude oil tanker at Qingdao Port, Shandong province, China. Picture: REUTERS/JASON LEE

“Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook and fears of recession are weighing on market sentiment, while there are ongoing risks on the supply side,” the Paris-based agency said. The estimate fell far short of producer group Opec’s estimate for the year of 3.4-million bpd growth on Tuesday. It was more in line with the US Energy Information Administration’s estimate of 2.2-million bpd growth.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.

I have always hated Bitcoin and thought it was a scam until a friend referred me to Allison_Grillo, I made my first withdrawal of R100,000 in 2 weeks thanks to Allison_Grillo.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Supply risks still haunt market despite high oil prices: IEAHigh oil prices have yet to dampen demand which is set to continue rising and may soon outstrip supply, the International Energy Agency warned. I have always hated Bitcoin and thought it was a scam until a friend referred me to Allison_Grillo, I made my first withdrawal of R100,000 in 2 weeks thanks to Allison_Grillo. I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.
Source: eNCA - 🏆 49. / 51 Read more »

High fuel prices dampening demand more than expected but oil market is 'walking a tightrope,' IEA says | Businessinsider'As an EU embargo on Russian oil is set to come into full force at the end of the year, the oil market may tighten once again.'
Source: BISouthAfrica - 🏆 34. / 51 Read more »

High fuel prices dampening demand more than expected but oil market is 'walking a tightrope,' IEA says | Businessinsider'As an EU embargo on Russian oil is set to come into full force at the end of the year, the oil market may tighten once again.'
Source: BISouthAfrica - 🏆 34. / 51 Read more »

Supply risks still haunt market despite high oil prices: IEAHigh oil prices have yet to dampen demand which is set to continue rising and may soon outstrip supply, the International Energy Agency warned. I have always hated Bitcoin and thought it was a scam until a friend referred me to Allison_Grillo, I made my first withdrawal of R100,000 in 2 weeks thanks to Allison_Grillo. I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.
Source: eNCA - 🏆 49. / 51 Read more »