MOSCOW, January 31 World oil demand in 2024 will depend on the growth of the global economy; according to expert consensus, it will grow by about 2 million barrels in day, Russian Deputy Prime Minister Alexander Novak told reporters.
«In many respects (global oil demand — ed.) will depend on the growth of the global economy. Today, experts have different estimates, they change throughout the year, quarterly. Accordingly, I have also seen different expert estimates: and OPEC, and other energy agencies. The consensus is that there will be an increase in demand of about 2 million barrels per day in 2024,» the Deputy Prime Minister said.
According to OPEC's latest estimate, released in January, global oil demand in 2024 is expected to rise by 2.25 million barrels per day year on year, to an average of 104.36 million barrels of oil per day.
And, for example, according to the forecast of the International Energy Agency (IEA), the growth in global demand in 2024 will be 1.2 million barrels per day, to a level of 102.96 million barrels per day.