Search ForexCrunch

While speaking on the sidelines of the World Knowledge Forum in Seoul on Friday, the International Energy Agency (IEA) Chief Faith Birol told Reuters that the Paris-based agency may cut its 2019 global oil demand growth estimates if the global economic outlook deteriorates further.

Additional Comments:

Diversifying oil and natural gas imports is a natural way for Asian buyers to reduce energy security risks.

Very lucrative time for Asian buyers to diversify gas imports as buyers have stronger hand.

Both crude benchmarks remain unperturbed by the above comments, keeping moderate losses so far this Friday.