the International Energy Agency (IEA) expects one because of the Ukraine war significantly lower oil production in Russia as well as with one slower growing oil demand. Daily production in Russia could therefore coming month by three million barrels (159 liters each). 8.6 million barrels decline, announced the IEA in Paris. “The impact of a potential loss of Russian oil exports on world markets cannot be underestimated,” the organization said. It is still too early to assess the concrete effects. However, the war could lead to permanent changes in the energy markets.
According to the IEA, global oil demand should continue to grow – albeit much more slowly than previously expected. For this year be from one Demand growth of 2.11 million barrels per day to go out So far, an increase of 3.23 million barrels per day had been mentioned.
As a result of slower growth reduced the IEA also theirs Forecast for the expected aggregate demand this year. Instead of an average demand of 100.6 million barrels per day, there will now be one daily demand of 99.7 million barrels estimated. Both the significantly higher oil prices and the weaker economic growth, both a result of the war, are likely to weigh on demand for oil, the statement said.