IEA: China Covid ease, air transport recovery will increase oil ‎demand

The International Energy Agency said today, Wednesday, that global oil demand is rising slowly, but it is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19.

According to “Reuters”, the Paris-based agency added in its monthly report on oil, “The growth in global oil demand in 2023 began with weakness, but it is expected to end the year with a significant increase.”

The Agency explained: “The recovery in the use of aviation fuel and the resumption of economic activities in China will lead to a total increase from the first quarter to the fourth quarter of 3.2 million barrels per day, which is the largest increase in a year since 2010.”