Economy
IEA expects global oil demand to fall by 8.4mln bpd in 2020, grow by 5.5mln bpd in 2021

Just Earth News | @justearthnews | 14 Oct 2020 Print

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IEA expects global oil demand to fall by 8.4mln bpd in 2020, grow by 5.5mln bpd in 2021

Moscow/Sputnik: The International Energy Agency has maintained its forecast for the global oil demand to decrease by 8.4 million barrels per day in 2020 and to grow by 5.5 million barrels daily in 2021, according to the monthly report issued Wednesday.

"Our 2020 forecast is unchanged at 91.7 mb/d, down 8.4 mb/d from 2019. Our 2021 forecast is also largely unchanged at 97.2 mb/d, showing a gain of 5.5 mb/d from 2020," the report read.

Global oil output decreased by 0.6 million barrels daily in September compared to August and amounted to 91.1 million barrels per day.

The IEA expects non-OPEC oil output to fall by 2.6 million barrels daily in 2020 and to increase by 0.4 million barrels per day in 2021. 

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