EIA Projects Lower Oil Demand Growth as Prices Plunge 4%

The U.S. Energy Information Administration (EIA) on Thursday revised its global oil demand growth projections downward, citing the impact of escalating trade tensions and increased tariffs, as markets resumed their downward trajectory that saw a brief pause on Wednesday following Washington’s announcement of a postponement for everyone except China. The EIA now anticipates a growth of 900,000 barrels per day (bpd) for the current year, a decrease from the previously forecasted 1.2 million bpd. For 2026, the projection is adjusted to 1.1 million…