![FILE PHOTO: A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/EGJA62566PIL2SOEQN35ZANNCI.jpg?smart=true&auth=469bb5cc982ea4f67ae21f08ff51c02115b9fe67b561767c3c4056b25a66dbd1&width=400&height=225)
A pump jack in Midland, Texas. Supply is likely to decline by 7.1m bpd this year, and rise by 1.6m bpd in 2021, according to the IEA. Reuters
A pump jack in Midland, Texas. Supply is likely to decline by 7.1m bpd this year, and rise by 1.6m bpd in 2021, according to the IEA. Reuters
IEA slashes 2020 oil demand growth outlook by 140,000 bpd
The Paris-based agency expects demand to soften to 91.9 million bpd this year