The IEA downgraded its forecasts of global oil demand in 2016

The IEA downgraded its forecasts of global oil demand in 2016


MOSCOW, 19 Jan. The international energy Agency (IEA) downgraded its forecasts of global oil demand in 2016 by 0.1 million barrels per day to 95.7 million barrels a day, follows from the monthly report of the Agency.

“Not particularly low temperatures in early winter in Japan, Europe and the U.S., along with weak economic indicators in China, Brazil, Russia and other commodity-dependent countries, led to the growth of demand for oil fell from almost five-year high in the third quarter (2.2 million barrels per day) to its lowest level in the fourth quarter (1 million barrels per day). The Outlook for 2016 assumes a moderate growth in demand of 1.2 million barrels per day,” the report notes.The survey

How much will the lifting of sanctions against Iran in the world oil market?

  • Almost not affected, and the market is so oversaturated
  • The situation will worsen, prices will fall even more
  • Affected, but in the long term, when Iran will establish a production
  • It will be a blow to oil-producing countries

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