IEA Monthly Oil Market Report: cuts 2021 oil demand outlook by 270k BPD to 5.4mln BPD amid lower Q1 demand in Europe and Americas
- Maintains H2 2021 oil demand growth steady as vaccine campaigns expand
- Recovery in demand is fragile amid surging cases in India and Thailand offset by positive trends in Europe and the US
- OPEC+ has pumped far below the call on its crude
Analysis details (09:01)
- As a reminder, the EIA STEO cut its 2021 world oil demand growth by 80k BPD and now sees a 5.42mln BPD Y/Y increase but raised its 2022 world oil demand growth forecast by 80k BPD to a 3.73mln BPD Y/Y increase. OPEC's 2021 global oil demand forecast was unchanged from the prior month.
12 May 2021 - 09:00- Important- Source: Newswires
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