IEA maintains outlook on oil demand growth in 2023 at 2 mln barrels per day

Business & Economy April 14, 2023, 12:20

The agency expects an increase in demand by the end of the year mainly in non-OECD countries, which will account for around 87% of growth

MOSCOW, April 14. /TASS/. The International Energy Agency (IEA) maintained its outlook on growth of global oil demand in 2023 at 2 mln barrels per day to a record 101.9 mln barrels per day, the agency reported on Friday.

Growth is expected to be propelled by international travel and a continued recovery in China, according to the report.

OECD oil demand slowed by warmer weather and sluggish industrial activity, fell by 390,000 barrels per day in Q1 2023 year-on-year.

The agency expects an increase in demand by the end of the year mainly in non-OECD countries, which will account for around 87% of growth. China only will account for half of global growth, the IEA noted.

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