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2015-04-16 20:20:00

2015: OIL DEMAND IS HIGHER

2015: OIL DEMAND IS HIGHER

In its April Oil Market Report, the International Energy Agency raised its forecast of 2015 global oil demand by 90,000 b/d to 93.6 million b/d, a gain of 1.1 million b/d on the year and a notable acceleration of the 700,000-b/d growth in 2014, as the global economy slowly gains momentum. Colder-than-year-earlier temperatures in most Organization for Economic Cooperation and Development economies in this year's first quarter also accounted for part of the upward revision.

Since bottoming out at a 5-year low of 270,000 b/d year-on-year in second-quarter 2014, global growth has steadily strengthened, rising to a one-and-a-half-year peak of 1.3 million b/d year-on-year in this…

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Tags: OIL, DEMAND, SUPPLY
Chronicle:
2015: OIL DEMAND IS HIGHER
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