New Omani News Agency Announcement: Implications for Investors and Business Growth in Oman
Paris – On July 11, the International Energy Agency (IEA) has revised its forecasts for global oil demand growth. For 2025, it now expects an increase of 700,000 barrels per day, down from previous estimates. Similarly, projections for 2026 have been adjusted to 720,000 barrels per day.
In its monthly report, the IEA also raised its expectations for oil supply growth this year following the OPEC+ alliance’s recent decision to boost crude output. The agency noted a significant slowdown in oil consumption over the past few months.
Additionally, the IEA, which advises industrialized nations, forecasts that global crude oil supplies will rise by 2.1 million barrels per day in 2025, which is an increase of 300,000 barrels per day compared to previous estimates.
Special Analysis by Omanet | Navigate Oman’s Market
The recent downgrade in global oil demand forecasts by the International Energy Agency signals potential challenges for businesses in Oman, particularly those dependent on oil revenue. While the increase in oil supply could stabilize prices, entrepreneurs should be aware of the risks associated with fluctuating demand, prompting a need for diversification and strategic planning. Smart investors should consider exploring alternative energy sectors and enhancing efficiency to mitigate the impact of shifting market dynamics.
Source: Oman News
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