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Demand for oil from OPEC+ countries in 2H of 2024 will amount to 42 mln bpd — IEA

The state of global oil demand is likely to be a key topic of discussion at the OPEC+ ministerial meeting scheduled for June 1, the IEA expects

MOSCOW, May 15. /TASS/. In the second half of 2024, demand for oil from countries participating in the OPEC+ agreement will be 42 million barrels per day (bpd), which is 700,000 bpd higher than the alliance’s production in April, according to the May report of the International Energy Agency (IEA).

"Despite the recent weakness, our current balances show the call on OPEC+ crude oil at around 42 mb/d in the second half of this year - roughly 700 kb/d above its April output," the agency says

The state of global oil demand is likely to be a key topic of discussion at the OPEC+ ministerial meeting scheduled for June 1, the IEA expects.

Also, at the June OPEC+ meeting, world oil reserves may be closely examined as an indicator of the fragile balance between global demand and supply, the agency says.

According to the report, preliminary data suggested a further rise in oil inventories in April as inventories in onshore storage surged.

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