Oil demand outlook cut over supply 'shock'

By Agence France-Presse

Mar 17, 2022 12:06 am

PARIS: The International Energy Agency (IEA) slashed its global oil demand forecast for 2022 on Wednesday, warning that sanctions against Russia over its invasion of Ukraine could spark a global supply 'shock.'

'Faced with what could turn into the biggest supply crisis in decades, global energy markets are at a crossroads,' the IEA said in a monthly report.

STILL UNDER THE SUN This March 13, 2022 photo shows drilling rigs sitting unused on a companyâ€™s lot in the Permian Basin area in Odessa, Texas. AFP PHOTO

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