IEA Says Oil Demand May Return to Pre-Crisis Levels in a Year
- Agency signals faster recovery than previously forecast
- IEA’s Birol says prices may climb unless OPEC+ boosts output
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Global oil demand may rebound to levels seen before the pandemic in a year, the International Energy Agency said, signaling a speedier recovery than its previous estimates.
“Demand in one year or so may well come back to the levels of before the crisis,” IEA Executive Director Fatih Birol said in a Bloomberg Television interview. There’s a “strong” recovery in progress in the U.S., China and Europe.