Reuters first to report IEA revising oil demand growth forecast down on slowing economy

Reuters was first to report that the International Energy Agency (IEA) has revised down its global oil demand growth forecast – a benchmark for energy markets – due to a global economic slowdown and a trade spat between the U.S. and China. IEA’s Executive Director Fatih Birol gave exclusive comments to Reuters and added that the agency may further cut its global oil demand outlook if economic slowdown worsens. The Reuters report contributed to a steep decline in oil prices which ended the day 2.7 percent down.