IEA Raises Oil Demand Outlook As Consumption Surprises To The Upside ...Middle East

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IEA Raises Oil Demand Outlook As Consumption Surprises To The Upside
source : OILPRICE ( Middle East ) () 26
Oil consumption in China, India, and the Middle East has surprised to the upside in recent weeks, prompting the International Energy Agency (IEA) to revise up its oil demand growth forecast for both this year and next. Despite an expected fourth-quarter contraction of global oil demand by 110,000 barrels per day (bpd) compared to the same period of 2021, recent data on consumption in non-OECD regions has pointed to more resilient demand than expected earlier, the IEA said on Wednesday in its Oil Market Report for December. The agency now sees global…

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