Paris, June 17 (QNA) - The International Energy Agency (IEA) reduced its global oil demand growth forecast for this year to 720,000 barrels per day, down from the previous estimate of 740,000 barrels per day. In its monthly report issued on Tuesday, the IEA also lowered its 2025 demand growth forecast to 740,000 barrels per day, compared to the earlier projection of 760,000 barrels per day. The agency attributed these adjustments to anticipated economic challenges in the medium term. Conversely, the IEA raised its global oil supply forecast, expecting an increase of 1.8 million barrels per day this year, up from the previous estimate of 1.6 million barrels per day. The report indicates that oil supply will remain adequate in global markets this year, provided there are no major disruptions. (QNA)