International Energy Agency (IEA) Executive Director Fatih Birol told Sputnik in an interview on Tuesday that the new US-China trade deal could increase global oil trade and return confidence in the market, following a lag that resulted from uncertainties stemming from the two nations' trade war
DAVOS (Pakistan Point News / Sputnik - 21st January, 2020) International Energy Agency (IEA) Executive Director Fatih Birol told Sputnik in an interview on Tuesday that the new US-China trade deal could increase global oil trade and return confidence in the market, following a lag that resulted from uncertainties stemming from the two nations' trade war.
"The most immediate influence is on the prospects for oil demand. Since the trade disputes broke out there has been a reduction in the growth rate of global trade and this has impacted demand for transport fuels ... With the new deal, confidence will return and trade should increase," Birol said.
