IEA maintains its forecast for global oil demand growth this year

The International Energy Agency (IEA) has maintained its forecast for the growth rate of global oil demand this year at 102.98 million barrels per day, reads the monthly report of the IEA, Report informs.

The growth forecast for 2024 remains unchanged at 1.2 million barrels per day year-on-year, compared with an average increase of 2.3 million barrels per day last year.

The difference between moderate demand in OECD countries and growth in consumption outside the organization, observed throughout 2023, has become less pronounced. However, demand growth will continue to be greater in non-OECD countries.