The International Energy Agency (IEA) did not change its forecast for the global oil demand in 2021 and still expects it to increase by 5.4 million barrels daily before surging by 3.1 more million barrels daily the next year
MOSCOW (Pakistan Point News / Sputnik - 11th June, 2021) The International Energy Agency (IEA) did not change its forecast for the global oil demand in 2021 and still expects it to increase by 5.4 million barrels daily before surging by 3.1 more million barrels daily the next year.
"Following a record decline of 8.6 mb/d in 2020, global oil demand is forecast to rebound by 5.4 mb/d in 2021 and a further 3.1 mb/d next year, to average 99.5 mb/d. By end-2022, demand should surpass pre-Covid levels," IEA said in its monthly oil market report.
The demand recovery is expected to be uneven across regions, sectors and products.
"While the end of the pandemic is in sight in advanced economies, slow vaccine distribution could still jeopardise the recovery in non-OECD [Organisation for Economic Co-operation and Development] countries," IEA added.
