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14/11/2017 - 15:58hs

IEA oil demand forecast scaled back

The International Energy Agency slashed its 2018 consumption projection for Brazil to 3.13 million bpd, besides shedding 50,000 bpd from its worldwide forecast.

São Paulo – Global demand for oil will fall short of prior expectations this year and the next due to a hike in prices, the International Energy Agency (IEA) said this Tuesday (14). Besides oil barrel prices, the estimate factors in the milder temperatures as winter begins in the Northern Hemisphere.

The IEA also revised down its 2018 oil demand forecast for Brazil from 3.15 million bpd to 3.13 million bpd. It kept its estimate for this year at 3.08 million bpd.

Worldwide, oil consumption is seen reaching 97.7 million bpd in 2017, up 1.5 million bpd from 2016. This forecast is down 50,000 bpd from the last one. Next year, demand is seen hitting 98.9 million bpd, up 1.3 million bpd from this year.

*Translated by Gabriel Pomerancblum

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