IEA cuts oil demand forecast again amid Hormuz crisis
Global oil supplies will fall by 4.3 million barrels per day (bpd), or around four percent, this year, the International Energy Agency (IEA) said in its monthly oil market report on Wednesday. It comes as renewed hostilities in the Middle East since July are set to plunge the world deeper into an oil-market deficit. "With an agreement enabling the reopening of Hormuz and unhindered transit…
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