Trump tariffs will mean world uses less oil this year, IEA says

Energy watchdog cuts forecast for growth in demand by a third, and says a trade war could mean it falls further

The world will use less crude oil than expected this year due the substantial risks" posed by Donald Trump's trade tariffs to the global economy, according to the global energy watchdog.

The International Energy Agency slashed its forecasts for global oil demand growth by a third for the year ahead, and warned that it could make further downward revisions depending on whether a trade war develops.