IEA reduces its forecast for global oil demand

Baku. 11 August. REPORT.AZ/ The International Energy Agency (IEA) reduced its global oil demand for 2017 by 400,000 bpd (0.41%) to 97,6 mln bpd compared to July and by 400,000 bpd (0,4%) to 99 mln bpd for 2018.

Report informs citing the Bloomberg, the IEA's August report says.

Thus, demand for oil will increase by 1,4 mln. bpd for the year 2018.

Meanwhile, IEA said oil supply by non-OPEC member countries will increase by 100,000 barrels/day or by 0.17% up to 59.6 mln bpd. The demand for OPEC oil this year will be 32.6 mln bpd this year. Notably, in July this figure was 32.9 mln. bpd.In 2018, demand for OPEC oil will be reduced from $ 32.8 mln bpd up to 32.4 mln bpd.