MOSCOW, March 16. /TASS/. Oil demand will grow by 2.1 mln barrels per day up to 99.7 mln barrels per day in 2022, according to the March report of the International Energy Agency (IEA).
The agency downgraded its outlook by 1.1 million bpd due to the military conflict in Ukraine.
However, in January, oil reserves of the OECD countries decreased by 22.1 million barrels, to 2.621 billion barrels, which is the lowest level since April 2014 and 335.6 million barrels lower than the five-year average.
At this level, stocks covered the oil needs of OECD countries for nearly 58 days. Preliminary data for February show stocks fell by another 29.8 million barrels.