EIA: Demand will exceed supply on oil market in 2021-2022

EIA: Demand will exceed supply on oil market in 2021-2022
  • Clock-gray 11:14
  • calendar-gray 10 February 2021

Energy Information Administration under the US Ministry of Energy expects that demand will exceed supply on the oil market in 2021-2022, APA-Economics reports citing the monthly report of the EIA.

The daily supply is expected to be 97,29 mln. barrels on the oil market in 2021, while demand to be 97,67 mln. barrels.

Thus, EIA forecasts a deficit of 380 thousand barrels on the oil market this year.

Furthermore, the EIA expects supply on the oil market to be 100,77 mln. barrels in 2022, while demand to be 101,17 mln. barrels.

 

Emil Ismayilov

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