# IEA raises oil demand outlook again but still lags OPEC | Reuters

> The IEA raised its 2024 oil demand growth forecast by 110,000 bpd for a fourth time since November, citing Houthi attacks that lengthen Red Sea shipping routes. The agency still sees less demand growth than OPEC.

- Date: 2024-03-14 · published 2024-03-14T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/31376-iea-raises-oil-demand-outlook-again-but-still-lags-opec-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A firmer demand outlook supports crude prices, and longer Red Sea routes raise freight costs for grain and oilseed imports.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-11-13 | [Oil settles up 1% as OPEC report dampens demand concerns \| Reuters](https://feedsoft.ai/events/33341-oil-settles-up-1-as-opec-report-dampens-demand-concerns-reuters.md) | -2.0% | -8.1% |
| BRENT | 2023-04-14 | [Oil rises, logs weekly gains after IEA predicts record demand](https://feedsoft.ai/events/36561-oil-rises-logs-weekly-gains-after-iea-predicts-record-demand.md) | -4.8% | -12.9% |
| BRENT | 2024-03-14 | [Oil prices climb as revised IEA outlook signals tighter market \| Reuters](https://feedsoft.ai/events/31368-oil-prices-climb-as-revised-iea-outlook-signals-tighter-market-reuters.md) | +2.2% | +7.9% |
| BRENT | 2018-04-30 | [OPEC oil output falls by 70,000 bpd in April - Reuters survey](https://feedsoft.ai/events/65423-opec-oil-output-falls-by-70-000-bpd-in-april-reuters-survey.md) | -0.2% | +2.0% |
| BRENT | 2026-01-09 | [OPEC oil output falls in December on Iran and Venezuela, Reuters survey finds \| Reuters](https://feedsoft.ai/events/20971-opec-oil-output-falls-in-december-on-iran-and-venezuela-reuters-survey-finds.md) | +3.7% | +9.6% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/iea-sees-economic-headwinds-putting-damper-supply-growth-2024-03-14/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.