IEA Says Oil Demand Dynamics Are Proving Stronger Than Expected
- Omicron having softer hit on consumption than assumed: Birol
- Supplies in some OPEC nations face serious disruption: IEA
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Global oil demand has proven stronger than expected as the latest coronavirus variant inflicts a softer hit to the economy than anticipated, the International Energy Agency said.
“Demand dynamics are stronger than many of the market observers had thought, mainly due to the milder Omicron expectations,” IEA Executive Director Fatih Birol said on a call with reporters on Wednesday.