Oil demand growth slows as non-Opec supply expands, says IEA

Global oil demand growth is slowing down, according to the International Energy Agency (IEA). The IEA has revised its 2024 growth forecast, which is now lower than Opec's projections. This year, the pace of expansion is expected to be 1.22 million barrels per day, half of the growth in 2023. Chinese consumption is a major factor in this slowdown.