Baku, Azerbaijan, June 14
By Sara Israfilbayova - Trend:
The International Energy Agency (IEA) lowered its forecast for oil demand growth in 2019 to 1.2 million barrels per day, Trend reports referring to the agency.
According to the agency's report, in the first quarter of 2019, demand grew by 0.3 million barrels per day.
The agency expects an increase in demand in the second half of the year to a level of 1.6 million barrels per day.
The IEA also predicts an increase in oil consumption in the world in 2020 by 1.4 million barrels per day. At the same time, countries that are not members of the Organization for Economic Cooperation and Development (OECD) will be the main growth drivers, increasing consumption by 880,000 barrels per day.
The IEA expects that in 2020 oil supply will exceed demand, which suggests that prices for these raw materials on world markets will decrease.
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