IEA expects global oil demand to rebound by 6.5 million barrels per day by the end of the year

According to a report from Natural Gas News in London on May 12, 2021, the International Energy Agency (IEA) predicted on May 12 that from the first quarter to the end of 2021, global oil demand will rebound sharply by approximately 6.

The IEA also pointed out in its monthly oil market report that oil inventories held by developed OECD countries are returning to "more normal" levels.

IEA said: "According to the current OPEC + production plan, the growth rate of supply will not keep up with the expected demand recovery.

Li Jun compiled from natural gas news

The original text is as follows:

IEA sees major oil demand rebound of 6.

The International Energy Agency on May 12 forecast a major rebound in oil demand of some 6.

In its monthly oil market report, the IEA also noted oil stocks held by the OECD developed countries were returning to "more normal" levels, based on figures from March showing levels just 1.

"Under the current OPEC+ production scenario, supplies won't rise fast enough to keep pace with the expected demand recovery," the IEA said.