IEA OMR: lowers 2022 demand growth forecast by 950k BPD to 2.1mln BPD for an average of 99.7mln BPD
Important
SourceNewsquawk
SectionEnergy & Power
- Emergency stocks provided by IEA members provide a welcome buffer.
- If a deal on Iran is struck, could increase exports by around 1mln BPD over six months.
- So far there is no willingness from Saudi Arabia or UAE to tap into reserves.
- Forecasts 3mln BPD of Russian oil output could be shut in as of April.