The International Energy Agency (IEA) has increased its forecast for global oil demand by 5.5 million barrels per day next year and by 3.3 million barrels per day in 2022, according to its report published on Thursday
MOSCOW (Pakistan Point News / Sputnik - 14th October, 2021) The International Energy Agency (IEA) has increased its forecast for global oil demand by 5.5 million barrels per day next year and by 3.3 million barrels per day in 2022, according to its report published on Thursday.
"The ongoing energy crisis has prompted a switch to oil that could boost demand by 500 kb/d compared with normal conditions. This contributed to an upward revision to our 2021 and 2022 forecast, by 170 kb/d and 210 kb/d respectively. Global oil demand is now forecast to rise by 5.5 mb/d in 2021 and 3.3 mb/d in 2022 when it reaches 99.6 mb/d, slightly above pre-Covid levels," the IEA said.
