[ad_1]
Istanbul / Anatolia
The International Energy Agency (IEA) lowered its forecast for global oil demand growth in 2019 on Friday, fearing an economic slowdown as the trade war between the US and China continued. and its implications for the market.
The Paris agency announced in a report today that it predicted that demand for oil would increase by 1.1 million barrels per day in 2019 and 1.3 million barrels per day in 2020, a decrease of 100,000 barrels per day from previous estimates.
World oil demand will reach about 100.4 million bpd in 2019, the paper said.
"There is more and more evidence of an economic slowdown," said the agency, as several large economies announced low GDP growth in the first half of this year.
On July 23, the IMF announced that global economic growth in 2019 would have fallen to 3.2 percent from April's forecast.
It has also reduced forecasts of global economic growth for 2020 from 0.1% to 3.5%.
"The outlook is fragile," said the IEA, with a greater likelihood of lower oil demand than increased demand.
In the first half of 2019, demand for oil rose 600,000 barrels a day, thanks to China's 500,000 barrels a day, followed by India and the United States.
The IEA has stated for the future that growth prospects for oil demand are "fragile", with a greater likelihood of downward revision than upward revision.
The Paris-based energy agency said its revisions to oil demand growth following the recent worsening economic outlook by the International Monetary Fund (IMF).
The information published on the official Anatolian information page is an abbreviation of some of the information presented to subscribers via the Information Flow System (HAS). To register at the agency, please contact the following link.
[ad_2]
Source link
