If the pace of global economy deteriorates further, the International Energy Agency (IEA) could revise down again its oil demand growth expectations for this year and next, the IEA’s executive director Fatih Birol told Reuters on Friday. “It will depend on the global economy. If the global economy weakens, for which there are already some signs we may lower oil demand expectations,” Birol said on the sidelines of a forum in South Korea. The IEA and many other organizations and analysts, including OPEC, have trimmed their oil demand growth estimates several times this year already, on the back of signs of slowing economic growth in the world, also due to the U.S.-China trade spat. The IEA’s latest downward revision to oil demand growth came in its August Oil Market Report, in which the Paris-based agency cut its forecast by 100,000 bpd to 1.1 million bpd for 2019, after seeing […]