The Energy Agency raises its estimates for the growth of global demand for oil
[*][ltr][You must be registered and logged in to see this link.][/ltr]
Shafaq News/ Today, Thursday, the International Energy Agency raised its estimates for the growth of global demand for oil in the current and next years, noting that the current energy crisis may boost consumption.
According to the monthly report of the agency based in the French capital, Paris, which was seen by Shafak News Agency, the agency raised its estimates for the growth of global demand for crude by about 170 and 210 thousand barrels per day in 2021 and 2022, respectively.
After this revision of estimates, global oil demand is likely to grow by about 5.5 million barrels per day this year, and by about 3.3 million barrels per day in 2022, according to the Energy Agency.
The agency said, , that the current energy crisis has strengthened the shift from natural gas and coal to oil; Which would boost demand for crude by about 500,000 barrels per day until the first quarter of 2022 compared to normal conditions.
She pointed out that global demand for gasoline is now only 2% lower than pre-corona levels, compared to a deficit of more than 10% at the beginning of this year.
However, the International Agency warned that current moves by the OPEC + alliance on easing the oil supply cut agreement may reverse global stockpile withdrawals by the middle of next year.
The agency believes that global demand for oil will return to pre-Corona levels in 2022, as total demand will be 99.6 million barrels per day, after reaching 96.3 million in 2021.
These estimates are consistent with OPEC's view that global demand for oil will return to pre-pandemic levels next year.
[You must be registered and logged in to see this link.]