IEA: Oil Demand To Fall For First Time In A Decade The IEA slashed its demand forecast for the first quarter of 2020, predicting that quarterly oil demand growth will turn negative for the first time in a decade

In its first publication on the oil market since the outbreak began, the International Energy Agency (IEA) dramatically revised its oil demand forecast, predicting consumption will actually contract by 435,000 bpd, the first outright decline year-on-year since the global financial crisis more than a decade ago.