IEA releases monthly oil market report


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 Titanium Media App reported on August 12. On August 11, local time, the International Energy Agency released the monthly report on the oil market. The report shows that some countries have had to change the way they generate electricity due to hot weather and soaring natural gas prices. At the same time, European industries, including refining, are also switching to fuel use, so global oil demand will grow more than previously forecast this year. The International Energy Agency projects global oil demand at 99.7 million barrels per day in 2022. The International Energy Agency also said that international oil prices had fallen to $30 a barrel from a peak in June due to rising oil supplies and growing concerns about a deteriorating economic outlook.

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