IEA: Oil demand will slow down in 2018

Baku. 31 January. REPORT.AZ/ In 2018, global oil demand will slow down compared to 2017.

Report informs citing the Bloomberg, head of the oil industry and markets division at the International Energy Agency (IEA) Neil Atkinson said.

Atkinson believes, oil production in the United States will hit 1 mln bbl / day by 2018 and production outside the OPEC will increase by 1.7 mln bbl/day in general.

Atkinson said in the first quarter, the demand in the oil market would exceed supply, while in the rest of the year there will be a small deficit in the market.

IEA expects the OPEC+ deal will continue until the end of the year and the production will be restricted.