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IEA Cuts Global Oil Demand Forecast Amid ‘Wobbling’ Asian Demand

The IEA said recent pillars of oil demand growth-China and India-are ‘wobbling.’ Above, an attendant...

The International Energy Agency on Tuesday sharply cut its forecast for global oil demand for this year and the next amid what it called “wobbling” Asian demand.

The fresh data is set to intensify the debate between oil producers later this month in Algiers about whether they should freeze their production.

In its closely watched monthly report, the IEA, which advises oil-consuming countries on their energy policies, downgraded its global oil demand predictions by about 100,000 barrels a day for this year—still growing by 1.3 million barrels a day. It also reduced the forecasts by about 200,000 barrels a day in 2017, with consumption...