EIA: Global oil demand rises by 4.5 mln bpd to 98.9 mln in October

MOSCOW, Nov 10 (PRIME) – International oil demand rose by 4.5 million barrels per day (bpd) on the year to 98.9 million bpd in October, the U.S. Energy Information Administration (EIA) said in a report late on Tuesday.

October demand is still 1.9 million bpd lower than demand during the pre-coronavirus year of 2019.

The EIA has maintained its forecast for the increase of demand by 5.1 million bpd to 97.5 million bpd in 2021 and by 3.3 million bpd more to 100.9 million bpd in 2022. It upgraded expectations of an average annual price of the Brent oil blend to U.S. $71.59 per barrel in 2021 from $71.38, while the forecast for 2022 was kept at $71.91 per barrel.

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