The head of Gazprom Neft announced the expectation of growth in global oil demand

World demand for oil in the second half of the year may grow, and by the end of the year it will amount to about 101.5-102 million barrels per day, he told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF) chapter “Gazprom oil “Alexander Dyukov, transmits Interfax.

“As for the second half of the year, there are expectations that demand will grow, and by the end of the year it will be in the region of 101.5-102 million bpd,” he said.

As noted by Dyukov, a large number of factors influence the indicator. “This is the economic situation in Western countries. We see that high interest rates certainly affect prices. We see that the banking crisis is also not conducive to growth. (…). In some countries, we see, if we talk about Europe and North America, a decrease in consumption,” he told reporters. Dyukov also called the growth of consumption in China an important factor.

Formerly International Energy Agency (IEA) predictedthat daily oil production in Russia will decline until 2028, by which time it will decrease by 710,000 barrels. compared to 2022 and will amount to 10.4 million barrels per day. Prior to the launch of the Special Forces in Ukraine, the agency had expected Russian oil production to rise by 100,000 bbl/d to 11.3 mb/d by 2025 and decline to just under 11 mb/d by 2028. Thus, the IEA lowered its forecast for Russia by 600,000 barrels per day.