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Global Oil Demand Forecast Comparison: IEA, OPEC, EIA

OIL

In the August monthly reports, the IEA and EIA have revised their global oil demand forecast for this year up, while OPEC kept its forecast stable. IEA remained most bullish in its forecast for this year.

  • The IEA revised its global oil demand forecast for this year up to 102.2mbpd, from 102.1mbpd in last month’s report, with demand growing by 2.2mbpd on the year.
  • EIA forecasts global oil demand significantly lower for this year at 101.19mbpd, compared with 101.16mbpd in the July report and up by 1.76mbpd year on year.
  • OPEC has kept its global oil demand forecast stable for this year at 102mbpd, with demand growth at 2.4mbpd year on year.

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