SUGAR LAND, TEXAS--June 15, 2023--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--In a new report, the International Energy Agency (IEA) (Paris, France) sees global oil demand growth slowing markedly over the next few years, driven by oil prices, actions by governments around the world and consumer behavioral changes.

Oil 2023, released June 14, predicted global oil demand rising by 6 million barrels per day (BBL/d) between 2022 and 2028, reaching 105.7 million BBL/d in 2028. Reduced demand for road transportation fuels would be partially offset by strong demand growth from petrochemical and aviation sectors, the agency said.