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Global Energy expects increased demand for oil
2018/03/16 11:16
(Encyclopedia of this day , news | News Iraq ) -
Economy News _ Baghdad
The International Energy Agency (IEA) has forecast growth in global demand for oil this year but has confirmed supplies are growing at a faster pace, leading to higher inventories in the first quarter of this year.
The Paris-based agency raised its forecast for world oil demand in 2018 to 99.3 million bpd from 97.8 million bpd in 2017.
Commercial oil stocks in the industrialized countries of the Organization for Economic Co-operation and Development (OECD) rose in January for the first time in seven months to 2.871 billion barrels, up 53 million barrels over the five-year average.
"The supply from Venezuela faces a possible rapid decline and without any change to compensate for that from other producers. The Latin American country may be the last element to push the market decisively towards shortages," the agency said.
"It expects non-Opec supply to grow by 1.8 million bpd in 2018 to 59.9 million bpd led by the United States, which is expected to increase its crude production by 1.3 million bpd in 2018 to more than 11 million bpd by the end of General.
The Energy Agency raised its estimate of demand for OPEC oil to 32.4 million barrels per day for the year 2018 compared to 32.3 million barrels per day in the expectations of last month.
US President Donald Trump's decision to impose tariffs on imports of steel and aluminum, which has pushed large trading partners to threaten, threatens global economic growth prospects, because any slowdown would have serious consequences, especially for fuel used in the shipping and trucking sector.
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https://hathalyoum.net/articles/1505300-%D8%A7%D9%84%D8%B7%D8%A7%D9%82%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85%D9%8A%D8%A9-%D8%AA%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D8%B2%D8%AF%D9%8A%D8%A7%D8%AF-%D8%A7%D9%84%D8%B7%D9%84%D8%A8-%D8%B9%D9%84%D9%89-
Economy News _ Baghdad
The International Energy Agency (IEA) has forecast growth in global demand for oil this year but has confirmed supplies are growing at a faster pace, leading to higher inventories in the first quarter of this year.
The Paris-based agency raised its forecast for world oil demand in 2018 to 99.3 million bpd from 97.8 million bpd in 2017.
Commercial oil stocks in the industrialized countries of the Organization for Economic Co-operation and Development (OECD) rose in January for the first time in seven months to 2.871 billion barrels, up 53 million barrels over the five-year average.
"The supply from Venezuela faces a possible rapid decline and without any change to compensate for that from other producers. The Latin American country may be the last element to push the market decisively towards shortages," the agency said.
"It expects non-Opec supply to grow by 1.8 million bpd in 2018 to 59.9 million bpd led by the United States, which is expected to increase its crude production by 1.3 million bpd in 2018 to more than 11 million bpd by the end of General.
The Energy Agency raised its estimate of demand for OPEC oil to 32.4 million barrels per day for the year 2018 compared to 32.3 million barrels per day in the expectations of last month.
US President Donald Trump's decision to impose tariffs on imports of steel and aluminum, which has pushed large trading partners to threaten, threatens global economic growth prospects, because any slowdown would have serious consequences, especially for fuel used in the shipping and trucking sector.
Note: The content entitled (Global Energy expects increasing demand for oil) was published first on the site (economy News) and does not bear the encyclopedia of this news day content in any way.
You can see the details of this title (Global Energy expects oil demand to increase) through its original source (Economy News).
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