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,.
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