On December 12th (Thursday), the International Energy Agency (IEA) raised its global oil demand growth forecast for the next two years, predicting that global oil demand will increase by 860,000 barrels per day in 2026, which is 90,000 barrels per day higher than last month's forecast. EIA has raised its forecast for oil demand growth in 2025 by 40,000 barrels per day to 830,000 barrels per day.

The International Energy Agency (IEA) has raised its global oil demand growth forecast for 2025 and 2026 to 830,000 barrels per day and 860,000 barrels per day, respectively, an increase of 40,000 barrels per day and 90,000 barrels per day from previous forecasts. This indicates an improved outlook for global oil demand, which may push up crude oil spot prices, as increased demand expectations will stimulate market buying and support the tight supply and demand pattern in the spot market. Although the upward adjustment is relatively small compared to the global average daily demand (about 100 million barrels), it reflects the economic recovery and energy consumption resilience, which constitutes a strong positive sentiment for the market.

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