IEA sees oil demand recovery outpacing growth in supply By Reuters – Investing.com

IEA sees oil demand recovery outpacing growth in supply By Reuters – Investing.com

By Noah Browning

LONDON (Reuters) - Demand for oil will exceed the output of top producers due to progress in vaccinating the world against COVID-19, the International Energy Agency (IEA) said on Wednesday.

"The anticipated supply growth through the rest of this year comes nowhere close to matching our forecast for significantly stronger demand beyond the second quarter," the IEA said in its monthly report, citing increased pumping from OPEC+ countries.