The International Energy Agency on Wednesday lowered its projection for 2025 oil demand growth though the organization said levels would exceed last year's.

The Paris-based agency said it expects global oil demand to grow by 1.05 million 澳洲幸运5官方开奖结果体彩网:barrels per day versus the 澳洲幸运5官方开奖结果体彩网:1.1 million B/D it forecast last month.

Still, the 2025 projection is above the 940,000 B/D global oil demand gro📖wth last year, an increase the IEA attributed to a marginal improvement in outlook for♌ the economy for 2025.

Global 😼oil demand during the fourth quarter also surged, as “lower fuel prices, colder weather across the Northern Hemisphere and abundant petrochemical feedstocks all combinedღ to boost consumption,” the IEA said.

Oil Prices Have Been Gainin♏g Since US Imp🎃osed Russian-Targeted Sanctions

Oil prices have been rising since the Treasury Department 澳洲幸运5官方开奖结果体彩网:last week imposed sanctions on the Russian oil industry.

"Oil prices surged past $80 [per barrel] in early January, propelled by tighter sanctions on Russian and Iranian oil and the North American cold snap," the IEA said.

澳洲幸运5官方开奖结果体彩网:Brent crude futures are flat at $80.01 a barrel Wednesday, while 澳洲幸运5官方开奖结果体彩网:West Texas Intermediate futures are up 0.2% at $77.62.