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开奖号码历史查询:barrels per day versus the 澳洲幸运5开奖号码历史查询:1.1 million B/D it forecast last month.

Still, the 2025 pro🧔jection is above the 940,000 B/D global oil demand growth 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 combined to boost consumption,” the IEA said.

Oil Pri꧒ces Have Been Gaining Since US Imposed Russian-Targeted Sanctions

Oil prices have been rising since the Treasury Department 澳洲幸运5开奖号码历史查询: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开奖号码历史查询:Brent crude futures are flat at $80.01 a barrel Wednesday, while 澳洲幸运5开奖号码历史查询:West Texas Intermediate futures are up 0.2% at $77.62.