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International Energy Agency cuts second-quarter global oil demand growth forecast

 Last Update: 2022-08-17
 Source: Internet
 Author: User

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The International Energy Agency (IEA) lowered its forecast for global oil demand growth in the second quarter of this year in its monthly oil report on the 12.

Global oil demand growth is expected to slow from 4 million barrels per day in the first quarter to 9 million barrels per day in the second quarter, against the backdrop of a slowing economic recovery and rising oil prices, according to the I.

Global oil demand is expected to increase from April to August as summer motoring numbers increase and jet fuel continues to recov.

Affected by the Russia-Ukraine crisis, Russia shut down nearly 1 million barrels per day of oil production capacity in April, resulting in a drop in global oil supply to 91 million barrels per day, the report show.

The IEA expects a steady rise in OPEC+ and.

Despite mounting international pressure and falling oil production, Russian exports have remained largely stable so far, the IEA sa.

The IEA said price volatility remained widespread in the oil market due to growing supply and demand uncertain.

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International Energy Agency cuts second-quarter global oil demand growth forecast​

International Energy Agency cuts second-quarter global oil demand growth forecast