Paris : The International Energy Agency (IEA) slightly downgraded its forecast for the 2021 global oil demand growth and now expects it to total 5.3 million barrels daily (down from July’s expectations of 5.4 million barrels daily).
“The outlook for the remainder of the year has also been appreciably downgraded due to the worsening of the pandemic and revisions to historical data. 2H21 oil demand has been lowered by over 500 kb/d since last month’s Report. Global oil demand is now seen rising 5.3 mb/d on average, to 96.2 mb/d in 2021, and a further 3.2 mb/d in 2022,” the IEA said in its new oil market report.
