IEA raises forecasts for global oil demand

November 14, 2023
Posted by: AliensFaith
Category: OBJECTIVE PRESS

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The International Energy Agency (IEA) has stated that global oil markets will not be as tight as expected this quarter. The agency has revised its forecasts for world fuel consumption due to surprising strength in China, and now predicts a supply shortfall during the fourth quarter that is 30% smaller than previously projected. The IEA attributes the softer outlook to production growth in the US and Brazil exceeding expectations. However, the agency still anticipates world oil demand to climb by 2.4 million barrels a day this year, with China accounting for 75% of the increase.

Author: AliensFaith

HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.

IEA raises forecasts for global oil demand

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