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Paris, July 11 (.).- The increase in oil demand continued its slowing trend in the second quarter of this year with an increase of 710,000 barrels per day (b/d), the lowest since the second quarter of 2022 The International Energy Agency (IEA) said this Thursday.

In its monthly report on the global oil market, the IEA attributes this lower rise to the contraction of consumption in April and May in China - where the recovery after the pandemic seems to have lost its vigor -, to the moderate global economic growth, to the electrification and energy efficiency measures.

The IEA maintains its global demand growth forecast at 970,000 barrels per day for this year (up to 103 million b/d), with another 980,000 increase in 2025 (105 million b/d).

On the other hand, supply continues to increase at a higher level than demand, with an increase of 910.00 barrels per day in the second quarter, mainly due to the boost to extraction in the United States.

The IEA forecasts another supply increase of 770,000 barrels per day during the third quarter, with the largest increase (600,000 b/d) coming from countries outside OPEC and its allies (OPEC+).

Inventories of crude oil and derivatives rose by 23.9 million barrels in May, the fourth consecutive month of increases, reaching the highest level since August 2021.

As for prices, they recorded "a solid recovery" in June, as Brent rose $7 per barrel, to $87, after having started the month at its lowest level in half a year ($75.61 per barrel). ).

The increase is due, first of all, to the intensification of geopolitical risks due to the increase in hostilities between Israel and the Lebanese Shiite militia of Hezbollah; as well as the continuation of Houthi attacks on merchant ships in the Red Sea, forcing many oil tankers to surround the African continent.