Worldwide oil demand trending higher


The world will burn more oil than ever this year, the International Energy Agency forecasts, as China’s emergence from COVID-19 lockdowns returns global crude demand to its upward, pre-pandemic trajectory.

The Paris-based energy watchdog said in a monthly report that it expects oil demand to grow to a record 101.9 million barrels a day this year, 200,000 barrels a day more than the IEA was forecasting last month. Read the full story from The Wall Street Journal.