IEA confirms the growth estimates for the oil demand in 2017 and 2018

IEA confirms the growth estimates for the oil demand in 2017 and 2018

Editorial Staff
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The International Energy Agency has spoken of a rising global demand for oil, and also of a rise in its price. In 2018, growth should slow to +1.4 million barrels per day, reaching 99.1 million

The growth estimates of the demand for oil in 2017 were confirmed at 1.6 million barrels a day for a total of 97.7 million. This was stated by the IEA, who has confirmed the rising estimates over recent months. The IEA has recorded a rise of 1.6 million barrels per day in its estimates of the growth of the world’s demand for oil this year. Growth for 2018 should slow to 1.4 million barrels a day and reach 99.1 million. As far as the offer is concerned, the production from OPEC countries in September remained largely stable. The supply from OPEC countries remained unchanged, which meant that the price remained stable. In November OPEC countries will meet again with non-OPEC countries (mainly Russia, Kazakhstan and Oman) to extend the agreement on production cuts. The IEA states that in this way it is possible to maintain price stability.