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IEA: Global oil oversupply is a thing of the past

 Last Update: 2021-06-10
 Source: Internet
 Author: User

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Recently, out of optimistic considerations about the epidemic situation and economic activities, the International Energy Agency (IEA) stated that it maintains an optimistic forecast of the outlook for global oil demand this year, and that the global oil oversupply phenomenon has basically ended.

Although the IEA lowered its forecast for this year’s global oil demand growth by 270,000 barrels per day, an increase of 5.

The IEA stated that under the current OPEC+ policy of limited production increases, oil supply will not be able to keep up with the expected surge in demand in the second half of the year.

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