Economic news

IEA upgrades crude demand forecast for 2017

International Energy Agency (IEA) has revised global oil demand growth forecasts for 2017.

Demand increased by 2.3 million barrels per day (mb/d), or 2.4 percent, in the second quarter of 2017, according to report. OECD demand growth continues to outpace expectations, particularly in Europe and the U.S.

It is expected that growth in demand for oil in the U.S. will slow in the third quarter of 2017 due to hurricanes Harvey and Irma.

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