The International Energy Agency (IEA) and OPEC expect oil consumption to grow less strongly due to the US tariffs. The two organizations have adjusted their forecasts for this year. The IEA expects oil consumption growth to be a third weaker than initially forecast. The organization still assumes an increase in daily consumption of 730,000 barrels (current consumption is around 100 million barrels per day). Next year, daily consumption is expected to grow by only 690,000 barrels. Possible weak growth and the risk of inflation are cited as the reasons. According to the IEA, the falling oil price could negatively impact US production, undermining Trump’s election promise to increase production.