PARIS, March 11 /TASS/. The International Energy Agency (IEA) has raised its forecast for global oil demand growth in 2016 by 200,000 barrels/day to 95.8 million barrels/day. This is according to the agency’s March report.
According to the report, just like in February, the agency expects oil demand growth in 2016 at 1.2 million barrels /day as compared with 2015.
IEA also expects oil production outside OPEC to decline by 750,000 barrels/day in 2016 in comparison with 2015 to 57 million barrels /day. That is 100,000 barrels/day less than in the February forecast.
In February, oil production by OPEC decreased by 90,000 barrels/day and totaled 32.61 million barrels/day.