IEA cuts global oil demand forecast by 100,000 bbl/day for 2016

MOSCOW, Feb 9 (PRIME) -- The International Energy Agency (IEA) has reduced the forecast for global oil demand in 2016 by 100,000 barrels per day to 95.6 million barrels per day, the agency said in a monthly report Tuesday.

The growth rate of the demand is projected at 1.2 million barrels daily in 2016 against 1.6 million barrels daily in 2015, the agency said. The demand growth can be supported by an oil price decrease below U.S. $30 per barrel, the IEA said.

In January, global oil supplies fell by 200,000 barrels per day to 96.5 million barrels per day as the output increase of OPEC countries partially offset the effect of non-OPEC countries’ output fall.

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