In a stark contrast from OPEC’s forecast for 2024, the International Energy Agency has projected oil demand growth (CL=F, BZ=F) to ease to 1.2 million barrels per day in 2024, which is nearly a 50% reduction from the 2.3 million barrels per day in 2023. The IEA cites economic headwinds, geopolitical conflicts, and potential reduction in demand due to EVs.
Yahoo Finance Reporter Ines Ferré joins the Live show to break down the latest development in the energy sector.
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