IEA cuts 2021 oil demand outlook
International Energy Agency's latest report comes as countries reimpose lockdowns to contain the pandemic
19 January 2021 - 16:56
The International Energy Agency (IEA) on Tuesday lowered forecasts for global oil demand as renewed lockdowns to contain the pandemic temper the recovery expected in 2021.
“The global vaccine rollout is putting fundamentals on a stronger trajectory for the year, with both supply and demand shifting back into growth,” the agency said in a monthly report. “But it will take more time for oil demand to recover fully as renewed lockdowns in a number of countries weigh on fuel sales.”..
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