for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Economic headwinds set to weigh on oil demand -IEA

LONDON, June 15 (Reuters) - Higher oil prices and dimming economic forecasts are set to drag on demand growth, the International Energy Agency said on Wednesday, though the world’s thirst for oil is set to reach pre-pandemic levels by 2023.

“Economic fears persist, as various international institutions have recently released downbeat outlooks,” the Paris-based IEA said in its monthly oil report.

“Similarly, tightening central bank policy, the impact of a soaring U.S. dollar and rising interest rates on the purchasing power of emerging economies mean the risks to our outlook are concentrated on the downside.”

Reporting by Noah Browning; editing by Jason Neely

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up