WorldInternational Energy Agency raises forecast for rising crude demand in 2021 and...

International Energy Agency raises forecast for rising crude demand in 2021 and 2022


AA / Istanbul

The International Energy Agency (IEA) said on Thursday that it had raised its forecast for global crude demand for 2021 and 2022, following the use of oil to replace natural gas, during next winter.

The Paris-based agency said in its monthly report released today that global oil demand could increase by around 5.5 million barrels per day in 2021, reaching 96.3 million barrels. per day.

The new forecast for crude demand this year is up 170,000 barrels per day from the previous forecast released last month.

The agency has raised its forecast for rising global oil demand over the next year from 210,000 barrels / d to 3.3 million barrels per day, bringing global demand in 2022 to 99.6 million. barrels per day.

According to the same source “the unprecedented prices of coal and natural gas, as well as persistent power cuts are pushing the energy sector and energy-intensive industries to switch to oil to maintain business continuity and continue operations “.

The report said that the increase in demand in the last quarter led to the largest withdrawal of petroleum product reserves in 8 years.

The demand for oil has rebounded in recent months, which has led to the rise in prices to their highest levels in more than 3 years. The price of a barrel of Brent crude has therefore exceeded the $ 83 mark.

* Translated from Arabic by Mounir Bennour

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