The 2mn barrel divide: IEA and Opec at odds over oil demand
Widening gap between forecasts from IEA, Opec and EIA clouds oil market outlook
Widening gap between forecasts from IEA, Opec and EIA clouds oil market outlook

With rivals running out of juice, the cartel can afford to play the long game

Demand drops 3.4% in March due to soaring prices, supply shortages and collapse of Middle East air travel

Plan underlines fears for the global economy from energy shock triggered by the Middle East war

If supply disruptions persist, holders of stockpiled reserves can’t be relied on to fully cushion the impact

International Energy Agency expects production to rise by 1.8mn barrels a day in 2025

Traders warn of further jump in prices and ‘huge pain’ as economies cut consumption