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Wednesday, 20 January 2016 16:30

IEA lowers oil demand forecasts

International energy agency (IEA) has lowered global oil demand forecasts in 2016 by 0.1 mln barrels per day – down to 95.7 mln barrels per day, Caspian Energy News (www.caspianenergy.net) reports with reference to the monthly report of the agency.

According to the report, OPEC’s oil production declined by 90,000 barrels per day in December, down to 32.28 mln barrels per day, including the data on Indonesia which has recently joined the cartel. At the end of 2016, production by OPEC members can exceed 32 mln barrels per day. 

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