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The latest International Energy Agency (IEA) monthly report states that the body believes that oil demand will return back to pre-pandemic levels by the end of next year.
- Says that by end-2022 global oil demand will reach 100.6mn b/d.
- Report states that "OPEC+ needs to open the taps to keep the world oil markets adequately supplied"
- "The pace at which the OPEC+ cuts can be unwound will depend not only on the success in containing the spread of the virus and demand growth but also the timing of the eventual return of Iranian barrels to the market."