Paris-Sana
The International Energy Agency announced that the demand for oil increased last month, at a time when the high rate of vaccination against Corona contributed to achieving strong economic activity.
And the French Press Agency quoted the agency as saying in its monthly report, “The demand for oil recorded a recovery, as it rose by about 3.2 million barrels per day last month, or more than a third of the total decline in demand last year.”
The agency expected that the demand for oil would rise by an additional 3.3 million barrels per day in the three months starting from this July, and this is more than twice the seasonal increase recorded during the same period in 2019, which came as a result of easing restrictions imposed to combat the Corona pandemic and the acceleration of the pace of vaccination.
The agency indicated that oil prices reacted strongly to the OPEC Plus crisis last week, in view of the possibility of a deep supply crisis if an agreement was not reached.
And a meeting of OPEC Plus countries at the beginning of this month ended without an agreement on gradual easing of production restrictions, which were imposed to stop the collapse of oil prices at the beginning of the epidemic crisis with the deterioration of demand.
It was expected that the OPEC Plus group would raise production gradually, but the crisis means that production will be kept at its current levels until an agreement is reached, which means fear of a shortage of supplies.
