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Novak estimated growth in oil demand in the world in 2019

"Oil of Russia" 03.10.2019 at 13:55

The Growth of demand for oil in the world in 2019 will amount, according to the Ministry of energy 1-1. 2 million barrels per day, 300-500 thousand barrels per day less than in 2018, said Russian energy Minister Alexander Novak in his speech at the forum "Russian energy week".

"We see that this year compared with 2018 under the influence of various factors, demand growth will be significantly below the growth may be 1-1. 2 million barrels per day," said the Minister.

He recalled that last year the growth in demand was 1.5 million barrels per day.

According to Novak, a strong influence on the reduction in demand provides the state of the global economy, whose growth slowed down in 2019 and 3% or less (as opposed to 3.6% in 2018).

He explained that economic growth in particular have slowed in the US, the EU and China.

"This is mainly due to trade wars," said the Minister.

Source: RNS