Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 13/06/2021 21:36 
11.06.2021 11:57 News >> Global Oil Demand To Rise 6% In 2021: International Energy Agency

Global Oil Demand To Rise 6% In 2021: International Energy Agency

1st half demand revised up, but estimate for 2nd half adjusted lower due to slow vaccination campaigns in non OECD economies.

Global oil demand is forecast to increase 6% this year and expected to return to pre-pandemic levels by the end of 2022, the International Energy Agency (IEA) said in its monthly oil report on Friday.
The agency adjusted the demand upwards for the first half of the year, however, it revised down its estimate for the second half due to slow vaccination campaigns in non-OECD economies, the IEA.
In June, oil demand is forecast to rise by a significant 2.5 million barrels per day (bpd) month-on-month, one of the largest monthly gains recorded in the past year, it said.
Stressing that most of the increase will occur in transport fuels, such as gasoline and jet fuel in India, the US and other large oil consumers, the agency said vaccination campaigns in Europe and North America, which represent 40% of global oil demand, have supported growth.
Demand is likely to grow by a further 1.2 million bpd month-on-month in July and 1 million bpd month-on-month in August, as the Northern Hemisphere summer holiday season supports increased travel, it added.
However, the agency warned that the recent surge in COVID-19 cases in countries as varied as Argentina, Brazil, India, Malaysia and Thailand serves as a reminder that the pandemic is not over, and that further demand declines are likely in countries with low virus immunity.
In 2021, the highest consumption is forecast to be in the Asia Pacific region with 35.7 million barrels per day, followed by the Americas with 30.3 million barrels and Europe with 13.7 million barrels.
-Global supply rises
The IEA said global oil supply increased by 970,000 bpd in May to 94.28 million bpd on the back of higher supply from non-OPEC+ and the monthly OPEC+ adjustment effort.
OPEC crude oil production reached 25.43 million bpd in May, recording an increase of 370,000 bpd compared to the previous month.
Non-OPEC production also saw an increase of almost 510,000 bpd to 63.51 million bpd. -



        Latest News
Anadolu Agency's Morning Briefing – June 13, 2021 27 minutes ago...
Daily briefing on novel coronavirus pandemic worldwide, Turkey, other developments.
Bosnia Commemorates Victims Burned Alive In War -3 minutes ago...
3,000 roses thrown into Drina River in memory of victims.
Israeli Soldiers Arrest 3 Teens In West Bank -3 minutes ago...
Teens detained from Aida refugee camp while playing football, according to media reports.
Nearly 450,000 Coronavirus Vaccine Doses Administrated In Turkey In One Day -3 minutes ago...
449,684 jabs given June 12, says health minister.
Libya's Presidential Council Head Emphasizes Importance Of Strengthening Relations With Turkey -18 minutes ago...
Mohamed al Menfi says it is important to improve cooperation with Ankara.

 
      Top News
Nearly 450,000 Coronavirus Vaccine Doses Administrated In Turkey In One Day Nearly 450,000 Coronavirus Vaccine Doses Administrated In Turkey In One Day
Mystery Bidder Buys $28M Space Ride With Amazon Founder Jeff Bezos Mystery Bidder Buys $28M Space Ride With Amazon Founder Jeff Bezos
Nearly 1,200 Cubic Meters Of Sea Mucilage Collected By Turkey Nearly 1,200 Cubic Meters Of Sea Mucilage Collected By Turkey
Denmark Midfielder Eriksen Collapses During EURO Match, Game Suspended Denmark Midfielder Eriksen Collapses During EURO Match, Game Suspended
Turkish Parliament Speaker Marks Russia Day Turkish Parliament Speaker Marks Russia Day
Azerbaijan's President Receives Credentials Of Non-Resident Somali Ambassador Azerbaijan's President Receives Credentials Of Non-Resident Somali Ambassador
Latin America Reports More COVID-19 Infections, Deaths Latin America Reports More COVID-19 Infections, Deaths
Environmental Developments Worldwide In May 2021 Environmental Developments Worldwide In May 2021
Turkish Documentary Receives Best Film Award At Morocco Festival Turkish Documentary Receives Best Film Award At Morocco Festival
5 New Nations Voted Into UN Security Council 5 New Nations Voted Into UN Security Council