The hottest IEA crude oil will soon cease

2022-07-29
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The International Energy Agency (IEA) believes that the recent rise in crude oil will soon slow down, slowing down concerns about the impact on the global economy

in his report on Wednesday (June 13), he wrote that it is difficult for oil prices to replicate the rise since the middle of last year, so the pressure on demand will be reduced

the IEA generally maintained its demand growth forecast for next year, i.e. 1.4 million barrels per day

however, it warned that there were some potential downside risks to demand, including the decline in economic confidence, the escalation of the trade war and the continued strengthening of the US dollar

the IEA raised the non OPEC supply growth to 2million barrels per day this year, and the growth is expected to slow to 1.7 million barrels per day next year, mostly from the United States

the stability of measurement OPEC and non OPEC will hold a meeting on June 22, and the important focus at that time is whether to relax the production reduction

Saudi Arabia and Russia advocate increasing production, but Iran, Iraq and other countries oppose it

international energy I believe that according to the current development of China, the agency has assumed a situation: Saudi Arabia and Russia may reduce their production by 1.5 million barrels per day by the end of next year, while other OPEC Middle East Member States will make up the gap of about 1.1 million barrels per day, and their quality will be better and better

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