IEA raises 2025 oil supply forecast after OPEC+ output hike decision
1. IEA raised oil supply growth forecast after OPEC+ production hike. 2. Lowered demand forecast due to weak demand from major economies.
FAQ
Why Bearish?
Increased supply with decreased demand typically leads to lower oil prices. Historical instances show similar forecasts resulted in price drops.
How important is it?
The IEA's forecasts directly influence oil futures and ETF like BNO, indicating potential price changes.
Why Short Term?
The effects of supply and demand changes generally manifest quickly in oil markets. Recent examples show immediate market reactions to similar IEA reports.