Forecast 50% of global oil demand growth will come from China
IEA: Forecast 50% of global oil demand growth will come from China
International Energy Agency (IEA) Executive Director Fatih Birol said that oil producers may have to review output policy after demand in China recovers.
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| The IEA predicts about 50% of global oil demand growth this year will come from China. Photo: AFP/VNA |
China, the world’s largest crude oil importer and second largest liquefied natural gas (LNG) importer, is seen as the biggest variable in the global oil and gas market this year.
House’s invest bet on speed of recovery economy after Beijing lifted restrictive measures related to the Covid-19 epidemic in December 2022.
Speaking to reporters on the sidelines of the Indian Energy Week Conference, Mr. Birol said the IEA predicts about 50% of global oil demand growth this year will come from China. China’s demand for jet fuel is soaring, he said, putting pressure on oil demand.
The official emphasized, in the event that oil demand increases very strongly when China’s economy recovers, the group of Petroleum Exporting Countries and its partners (OPEC +) may have to review output policies. mine.
In the latest meeting on February 1, OPEC + agreed to keep the current production cut of 2 million barrels per day, in the context of the gradually improving fuel demand outlook in China.
This cut, equivalent to about 2% of world demand, was agreed to be implemented by OPEC+ from November 2022 to the end of 2023 to support the global energy market.
at Thuvienpc.com – Source: Baodautu.vn – Read the original article here
