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IEA slightly upgrades 2022-2023 global oil demand growth forecasts

14 December 2022 14:03 (UTC +04:00)

The International Energy Agency (IEA) has slightly upgraded its forecasts for the global oil demand growth to 99.9 million barrels per day in 2022 and to 101.6 million barrels per day in 2023, according to its fresh report published on Wednesday, APA reports citing Urdupoint.

In the November report, the agency expected the demand to grow by 2.1 million barrels per day to 99.

8 million barrels per day in 2022 and by 1.6 million barrels per day to 101.4 million barrels per day in 2023.

"In view of this recent resilience, our forecasts for global demand growth have been increased compared to last month's Report. Estimates for 2022 and 2023 have been revised up, by 140 kb/d to 2.3 mb/d year-on-year (y-o-y) (reaching 99.9 mb/d), and by 100 kb/d to 1.7 mb/d y-o-y (reaching 101.6 mb/d), respectively," the report read.