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IEA increases global oil demand outlook to 96.07 mln barrels/day in 2016

June 14, 12:28 UTC+3
The daily oil demand growth is expected to be 1.3 mln barrels in 2016 as compared to a year earlier, a report says
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PARIS, June 14. /TASS/. The International Energy Agency (IEA) increased the global oil demand outlook by 100,000 barrels daily to 96.07 mln barrels per day in 2016, the IEA said on Tuesday in its June report.

The daily oil demand growth is expected to be 1.3 mln barrels in 2016 as compared to a year earlier.

According to the June outlook, the IEA expects non-OPEC oil production will decline by 900,000 barrels daily this year in comparison to 2015. At the same time, the non-OPEC oil production outlook was not revised and remains at the level of up to 56.8 mln barrels per day.

OPEC oil production declined by 110,000 barrels daily to 32.61 mln barrels per day against the background of strikes in Nigeria, the IEA said.

Iran boosted May production by 80,000 barrels per day to 3.64 mln barrels daily and reached its maximum rate from June 2011, the IEA reported.

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