The demand growth projection for 2025 was revised slightly down to 990,000 bpd from 998,000 bpd, as the agency warned that demand growth this year and next will be much lower than in previous years, also because of weak Chinese demand.
Russia-Saudi oil cooperation is still going strong as part of the OPEC+ alliance, which will do “whatever necessary” to support the market, Saudi Energy Minister Prince Abdulaziz bin Salman told a conference on Wednesday.