Oil Demand Security

The IEA lifted its average demand growth forecast for 2025 as a whole to 740,000 bpd, up by 20,000 bpd from the previous report

In wake of weak crude prices and subdued demand, India now looks to highlight demand security will be equally important for oil producing companies. The country's oil minister Dharmendra Pradhan once again pushed for 'responsible pricing' at the Petroleum Congress in Istanbul."He underlined that in today's oversupplied market, it is important for producers to understand the perspective of consumers and demand centres and the changes that have taken place in these demand centres. As the security of supplies is an important factor for consumers, security of demand is equally important for producers," said a statement from the Press Information Bureau (PIB) on Wednesday." A 17% decline in global energy investment since 2014 has not yet raised major concerns about near-term energy supply adequacy, which have been eased by excess capacity in global fossil fuel supply and electricity generation in some markets, as well as cost deflation," International Energy Agency (IEA) said in its World .