International Energy Agency predicts strong global oil demand growth over the next five years

On the 5th, the International Energy Agency released the oil market outlook report in Houston, the United States, saying that global oil demand growth will be strong in the next five years, and that China and India will account for half of the world's total demand growth. On the 5th, the five-day "Cambridge Energy Week" conference opened in the southern city of Houston. The International Energy Agency’s Director, Fatih Birol, released the oil market outlook report for the next five years at the first press conference, saying that the International Energy Agency predicts that global oil demand will grow strongly in the next five years, including China and India. The increase in oil demand will account for half of the world's total demand growth. The report also pointed out that oil production in non-OPEC oil producing countries will increase significantly in the next five years, with output growth in the United States, Brazil, Canada and Norway particularly strong. The report said that shale oil production is rising and has become one of the most important sources of global oil production growth. In terms of oil prices, the report believes that the international oil price is unlikely to rise sharply in the next five years and is expected to remain at around US$60 per barrel, but it does not rule out that once some oil producing countries are unstable, oil prices may appear larger in a short time. fluctuation. The theme of this “Cambridge Energy Week” conference is “Critical Point: Strategy for New Energy Future”. More than 3,000 government officials and energy people from all over the world attended the conference.

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