Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home Economy

Oil Demand Recovery Expected to Pick Up Speed Later This Year

2 months ago
in Economy
1 min read
Oil Demand Recovery Expected to Pick Up Speed Later This Year
Share on FacebookShare on Twitter


The recovery in global oil demand will accelerate in the second half of this year as the market continues to rebalance after the turmoil brought by the pandemic, according to OPEC and the International Energy Agency.

Despite increasing its estimates for oil output in 2021, the IEA said in its monthly market report that a recovery in demand would outstrip production in the second half of the year, prompting “a rapid stock draw” of the glut of crude that has built up since the pandemic began.

The agency significantly increased its forecast for producing nations outside of the pact between the Organization of the Petroleum Exporting Countries and allies such as Russia, raising its projections for non-OPEC supply growth by 290,000 barrels a day to an increase of 830,000 barrels a day this year.

In its own monthly report, also released Thursday, OPEC reduced its non-OPEC production growth forecast by 200,000 barrels to 700,000 barrels a day.

At the same time, the IEA trimmed its forecast for global oil demand by 200,000 barrels a day to 96.4 million barrels, around 3% less than in 2019, but said part of that was because of a change to historic data. OPEC also reduced its own 2021 demand forecast, cutting it to 96.1 million barrels a day.



Go to the news source: Oil Demand Recovery Expected to Pick Up Speed Later This Year

Tags: C&E Exclusion FiltercommodityCommodity MarketsCommodity/Financial Market NewsContent TypesCorporateCorporate/Industrial NewsCrude OilCrude Oil MarketsCrude Oil/Natural Gas Upstream OperationsDemandEnergyEnergy MarketsexpectedFactiva Filtersfinancial market newsfossil fuelsGasindustrial newsintegrated oilIntegrated Oil/GasInternational Energy Agencynatural gas upstream operationsOiloutputOutput/ProductionpickproductionproductsProducts/ServicesrecoveryServicesspeedsyndWSJ-PRO-WSJ.comyear
Previous Post

Arkansas State Hospital Is Live on Medsphere’s CareVue Platform

Next Post

Higher-Income K–12 Students Are Twice As Likely to Have Live Contact With Teache…

Related Posts

British Muslim billionaire brothers buy healthy fast food chain
Economy

British Muslim billionaire brothers buy healthy fast food chain

by Forex News
April 18, 2021
0

DUBAI: Kuwaiti coffee delivery app COFE has raised $10 million in new funding, which it aims to use to...

Read more
Oil And Gas Barnkuptcies Jump Despite Rise In Crude Prices
Economy

Oil And Gas Barnkuptcies Jump Despite Rise In Crude Prices

by Forex News
April 18, 2021
0

The oil and gas sector is currently enjoying a mini-boom cycle as economies gradually re-open and oil demand begins...

Read more
Workers are a year into unemployment benefits. It’s causing problems
Economy

Workers are a year into unemployment benefits. It’s causing problems

by Forex News
April 18, 2021
0

People wait in line at a food distribution site in the South Bronx on March 10, 2021 in New...

Read more
Covid-19 prompted new financial aid to Americans. Could it continue?
Economy

Covid-19 prompted new financial aid to Americans. Could it continue?

by Forex News
April 18, 2021
0

Halfpoint Images | Moment | Getty ImagesMillions of Americans have received some form of financial support from the government...

Read more
The Great Depression and Money Printers of Today
Economy

The Great Depression and Money Printers of Today

by Forex News
April 18, 2021
0

The Franklin Delano Roosevelt Memorial in Washington. Source: Adobe/Zack Frank Mary O'Sullivan, Professor of Economic History, Université de Genève.___...

Read more
Will the European Central Bank do more to help eurozone economy?
Economy

Will the European Central Bank do more to help eurozone economy?

by Forex News
April 18, 2021
0

Will the European Central Bank do more to help eurozone economy?When ECB policymakers meet on Thursday, they will be...

Read more
China facing economic crisis as population peak nears, PBOC adviser says – South…
Economy

China facing economic crisis as population peak nears, PBOC adviser says – South…

by Forex News
April 18, 2021
0

China facing economic crisis as population peak nears, PBOC adviser says South China Morning Post Go to the...

Read more
Saudi Crown Prince’s Latest Economic Plan Comes With Big Risks
Economy

Saudi Crown Prince’s Latest Economic Plan Comes With Big Risks

by Forex News
April 18, 2021
0

Saudi Crown Prince Mohammed bin Salman. Photographer: Fayez Nureldine/AFP/Getty Images Photographer: Fayez Nureldine/AFP/Getty Images  Explore what’s moving the global...

Read more
Economic Recovery After Covid: Scars Will Remain After the Rebound
Economy

Economic Recovery After Covid: Scars Will Remain After the Rebound

by Forex News
April 18, 2021
0

Health workers take swab samples from attendees for a pre-event Covid-19 test ahead of a concert in Barcelona. Photographer:...

Read more
These five Shenzhen firms could drive Xi’s call for next economic miracle – Sout…
Economy

These five Shenzhen firms could drive Xi’s call for next economic miracle – Sout…

by Forex News
April 18, 2021
0

These five Shenzhen firms could drive Xi’s call for next economic miracle South China Morning Post Go to...

Read more
Next Post
Higher-Income K–12 Students Are Twice As Likely to Have Live Contact With Teache…

Higher-Income K–12 Students Are Twice As Likely to Have Live Contact With Teache...

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

Yellen Says Risk Panel to Address Vulnerabilities From 2020 Market Meltdown

Yellen Says Risk Panel to Address Vulnerabilities From 2020 Market Meltdown

3 weeks ago
Coronavirus: Public need ‘home truths’ on economy – Hammond

Coronavirus: Public need ‘home truths’ on economy – Hammond

2 months ago
Forex reserves down by $249 million to $ 583.697 billion

Forex reserves down by $249 million to $ 583.697 billion

2 months ago
Sensex hits new high, Nifty above 14,500 for first time; Bajaj twins, RIL top ga…

Sensex hits new high, Nifty above 14,500 for first time; Bajaj twins, RIL top ga…

3 months ago

Today Market News

British Muslim billionaire brothers buy healthy fast food chain
Economy

British Muslim billionaire brothers buy healthy fast food chain

April 18, 2021
16-year-old suspect arrested in deadly Westroads Mall shooting
Politics

16-year-old suspect arrested in deadly Westroads Mall shooting

April 18, 2021
How To Survive a Volatile Market in 2021
Stock

How To Survive a Volatile Market in 2021

April 18, 2021
Landmen Who Once Staked Claims for Oil and Gas Now Hunt Wind and Sun
Energy

Landmen Who Once Staked Claims for Oil and Gas Now Hunt Wind and Sun

April 18, 2021
The realities of climate change are pushing big businesses to focus on sustainab…
companies

The realities of climate change are pushing big businesses to focus on sustainab…

April 18, 2021
Covid-19 Live News: Updates on Variants and Vaccines
Business

Covid-19 Live News: Updates on Variants and Vaccines

April 18, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz