Global oil supply to go up by 1 mln barrels per day in 2021, says IEA

Global oil supply to go up by 1 mln barrels per day in 2021, says IEA
  • Clock-gray 16:17
  • calendar-gray 19 January 2021

Global supply on the oil market is expected to go up by 1 mln barrels per day in 2021 after a decrease by 6.6 mln barrels per day in 2020 mainly due to OPEC+ nations, the International Energy Agency (IEA) said in a report, APA reports quoting TASS.

Meanwhile, the agency considers an additional increase in global supply possible amid recovery of oil demand in the second half of 2021.

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