On the 13th local time, the International Energy Agency released the "Oil Market Report" for October.

The report said the continued deterioration of the economy and the rise in oil prices triggered by the OPEC+ production cut plan are slowing global oil demand.

The International Energy Agency stressed that higher oil prices will have a major impact on the global economy, which is already on the brink of recession, amid persistent inflationary pressures and rising interest rates.

　　The International Energy Agency said the large-scale cuts in oil supply by OPEC+ have increased global energy security risks.

As a result, the International Energy Agency lowered its forecast for oil demand growth in 2022 and 2023.

The International Energy Agency said that since 2022, the growth of oil demand has gradually declined, and the fourth quarter of this year is estimated to be 340,000 barrels per day less than the same period last year. The growth of oil demand in 2022 is expected to be only 1.9 million barrels per day.

The IEA also lowered its forecast for oil demand growth in 2023 to 1.7 million barrels per day, down 470,000 barrels from its previous forecast.

　　The International Energy Agency expects OPEC+ crude production to fall by 1 million barrels per day from November, mainly from Saudi Arabia and the United Arab Emirates.

In December, Europe began an oil embargo against Russia, which will further reduce global crude oil production.

　　Media analysis believes that the IEA's relevant statement highlights the huge differences between it and OPEC, which also reflects the huge differences between IEA member states and OPEC member states.

Such differences will seriously affect the stability of the international oil market.

　　The International Energy Agency, established in 1974, is an international organization established by major oil consuming countries to coordinate their oil policies and reduce their dependence on imported oil after the Middle East oil crisis.

Currently, the International Energy Agency has 31 member countries.

(Headquarters reporter Jiang Hua)

　　(CCTV News Client)