News

Demand for oil to drop

14 de novembro de 2017

The International Energy Agency estimates that consumption of petroleum will shrink in Brazil – to 3.15 million barrels per day in 2018 – as well as worldwide.

São Paulo – Global demand for oil is poised to drop this and next year due to a hike in prices, as per projections issued this Tuesday (14) by the International Energy Agency (IEA). Besides oil barrel prices, the estimate factors in the milder temperatures as winter begins in the Northern Hemisphere.

The IEA also revised down its 2018 oil demand forecast for Brazil from 3.15 million bpd to 3.13 million bpd. It kept its estimate for this year at 3.08 million bpd.

Worldwide, oil consumption is seen reaching 97.7 million bpd in 2017, up 1.5 million bpd from 2016. This forecast is down 50,000 bpd from the last one. Next year, demand is seen hitting 98.9 million bpd, up 1.3 million bpd from this year.

*Translated by Gabriel Pomerancblum