The demand for oil will increase more this year than initially anticipated. This was revealed on Wednesday in a report by the International Energy Agency IEA.
The IEA increased the estimate today by 230,000 barrels of oil per day. As a result, the demand for oil is increasing by 5.7 million barrels a day this year.
Tuesday also oil cartel OPEC already increased oil demand estimates by 100,000 barrels per day in 2021.
The price of oil rose about 1.5 percent on Wednesday.