The International Energy Agency (IEA) has reduced its forecast for the growth rate of global average daily oil demand for this year by 200 thousand barrels, APA-Economics reports, citing the Agency’s monthly report.
According to the previous forecast, the Agency expected oil demand this year to increase by 850 thousand barrels to 104.87 million barrels.
In the new report, however, the IEA states that oil demand this year will increase by 650 thousand barrels to reach 104.77 million barrels. Thus, the Agency has lowered its forecast by 200 thousand barrels.
According to the report, the average daily global oil demand last year was 104.12 million barrels.
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