IEA: Oil Demand Recovery Has Stalled

The International Energy Agency (IEA) joined the chorus of analysts saying that the pace of global oil demand recovery has stalled in recent weeks on the back of weak refining margins, a lack of recovery in jet fuel demand, and uncertainties over global economic growth, including in the world’s top oil importer, China. Although the IEA doesn’t forecast major slowdowns in demand going forward, global oversupply has yet to show strong signs of drawdowns, Keisuke Sadamori, Director, Energy Markets and Security at the IEA, told Reuters.…