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Economics

IEA raises forecast for global oil demand this year

In total, global oil demand was projected to reach 98 million barrels per day this year.

13.07.2017

(AFP) - Global demand for oil will be slightly higher than expected this year, driven by increased consumption in India, the US and Germany, the International Energy Agency said on Thursday.

"Estimates of global oil product demand growth in 2017 have been revised up... to 1.4 million barrels per day, on surprisingly robust preliminary second quarter demand numbers," the IEA wrote in its latest monthly oil market report.

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