Energy Agency: Resuming China’s activities, air transport recovery increase oil demand

The International Energy Agency said on Wednesday that global oil demand is rising slowly, but is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19.

“Global oil demand growth started in 2023 weakly, but it is expected to end the year with a significant increase,” the Paris-based agency added in its monthly oil report.

And she continued, “The recovery in the use of jet fuel and the resumption of economic activities in China will lead to a total increase from the first quarter to the fourth quarter of 3.2 million barrels per day, which is the largest percentage increase in a year since 2010.”