IEA predicts 7% growth in global oil demand y 2025

Global demand for oil will grow by 6.6 million barrels per day to 103.5 million barrels per day by 2025,  the International Energy Agency (IEA) said in an annual World Energy Outlook 2019.

It will grow 9.8% to 106.4 million barrels per day by 2040, as compared with 106.3 million barrels per day, projected in the previous outlook.

Russia’s demand for oil will rise from 3.2 million barrels per day in 2018 to 3.4 million barrels per day in 2025, and then will fall to 3.3 million barrels per day in 2035.

Russia’s oil output will decrease from 11.5 million barrels per day in 2018 to 11.1 million barrels per day in 2025, and 9.4 million barrels per day in 2040, PRIME reported.