IEA warns OPEC+ cuts raise energy security risk as it slashes demand estimates

The International Energy Agency on Oct. 13 strongly criticized the OPEC+ group’s oil output cuts as it slashed its demand growth estimates for 2022 and 2023 on the worsening economic outlook, China’s pandemic restrictions and price rises induced by the cuts. In its monthly oil market report, the IEA warned the world was navigating the “worst global energy crisis in…