The International Energy Agency slightly adjusted its expectations for the oil markets for the two years 2022 and 2023, amid fears of the decline in demand for black gold due to the current global economic conditions.
The International Energy Agency slightly amended its estimates of global oil demand for 2022 and 2023 and is now expected to reach 99. 8 million barrels and 101. 4 million barrels per day, respectively, according to the agency’s report for the month of November.
In its expectations for October 2022, the agency expected the demand to rise 1. 9 million barrels per day in 2022 and 1. 7 million barrels per day in 2023 to 99. 6 million (2022) and 101. 3 million barrels per day (2023).
The report pointed out that oil prices are still about 30% lower compared to their peaks in June 2022, while oil shipping prices increased as exports increased.
Source: Novosti.
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