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Scarcity and higher prices impact oil demand globally, Annmarie Hordern reveals
The International Energy Agency (IEA) warns that the war involving Iran has thoroughly altered the global outlook for oil consumption.
Annmarie Hordern shares the IEA’s view that ongoing scarcity and rising prices will lead to widespread demand destruction in oil markets.
Earlier, Annmarie Hordern reported that Dated Brent oil surged to a record $144.42, according to Platts data. She also covered a statement from the UAE ambassador confirming that a $1.4 trillion U.S. investment plan would continue despite Iran concerns. These developments preceded the IEA's warning on the impact of the conflict on global oil demand.
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