International Energy reduce oil demand forecasts for the rest of 2021

Follow-up - INA

The International Energy Agency, today, Thursday, cut its forecast for global oil demand sharply for the rest of this year, with the exacerbation of “Covid-19” injuries, while it expects a new surplus next year.

According to the monthly report of the International Energy Agency, issued today, and seen by the Iraqi News Agency (INA), "it is expected that global demand for oil will grow this year by about 100 thousand barrels per day, while it raised its expectations for the next year by about 200 thousand barrels per day."

Paris-based agency explained that "the increasing demand for oil suddenly reversed its course last July, noting that expectations were lowered for the remainder of 2021 due to the exacerbation of Corona injuries."

The Agency said, "It has reduced the global oil demand growth estimates for the second half of 2021 more sharply, as it expected the global demand growth for oil during the second half to be less than last month's estimates by about 550,000 barrels per day."

The Energy Agency believes that "demand for oil will grow by about 3.2 million barrels per day in 2022."