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International Energy Agency raises global oil demand this year and next

 Last Update: 2021-11-16
 Source: Internet
 Author: User

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According to Xinhua News Agency, the Paris-based International Energy Agency recently released an October oil market report, which raised global oil demand in 2021 and 2022 to an average of 96.

According to forecasts by the International Energy Agency, as the energy crisis continues to prompt people to re-depend on oil, global oil demand in 2021 and 2022 will increase by an average of 5.

The report pointed out that record-breaking coal and natural gas prices and power outages have prompted power sectors and energy-intensive industries around the world to switch to oil, thereby pushing up global oil demand

Thanks to the recovery of the United States from the impact of Hurricane Ida and the decision of the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing countries to continue to increase oil production, the International Energy Agency predicts that international crude oil supply will increase substantially in October

Due to market concerns about energy supply and continued decline in oil inventories, crude oil prices reached their highest level in seven years in early October

The International Energy Agency warned in its monthly report that rising energy prices could lead to a reduction in industrial activity and slow down the recovery of the global economy from the new crown epidemic

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