Vaccine roll out will help oil demand: IEA
The roll out of vaccines are expected to assist in the "strong pent-up demand," said the International Energy Agency (IEA) in a report, on Tuesday.
"Already signs are emerging of COVID cases abating with demand now expected to rebound by a sharp 1.6 million barrels per day (bpd) in October, and continuing to grow until end-year," the Paris-based IEA wrote in its monthly oil report.
The IEA also said that Hurricane Ida in the U.S. Gulf coast oil hub have resulted in the first decline in global supply in five months,.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More oil news
Asian Stocks Rise as Xi Meeting Spurs China Tech: Markets Wrap
Europe Defense Spending Lifts Stocks, Hurts Bonds: Markets Wrap
Oil Holds Declines on Prospect of Higher Russia, Iraq Supplies
Canada’s Conservative Leader Pitches Major Natural-Resource Revamp to Counter Trump
EPA Terminates Nearly 400 Workers Amid US Government Purge
Trump to Create White House Council to Drive Energy Dominance
Oil Steadies as Trump’s Reciprocal Tariffs Add to Trade Tensions
Isuzu to Build Car Plant in South Carolina as Trump Tariffs Loom
SoftBank Weighs Debt-Heavy Financing in $500 Billion AI Push
