The International Energy Agency (IEA) has raised its forecast for 2024 oil demand growth to 1.24 million barrels per day, but still much lower than Opec’s ambitious estimate of 2.25 million bpd.

This was the agency’s third consecutive upward revision in recent months and 180,000 bpd higher than its previous projection.

IEA added that record output from the US, Brazil, Guyana and Canada would help boost global oil supplies this year by at least 1.5