The demand for oil will exceed the amount of Covid by the end of 2022, says the IEA

Oil prices are expected to exceed the number of coronaviruses by the end of 2022, the International Energy Agency said on Friday.

Consumption dropped by 8.6m barrels a day last year when coronavirus hit the world. It is expected to return by 5.4mb / d this year as the vaccine is released and the countries reopen.

By 2022, the IEA expects a further increase of 3.1mb / d, to 99.5mb / d and a further increase by the end of the year that will surpass the number of people before the onset of coronavirus infection.

However, the Paris-based agency warned in its monthly fat report that “recovery can be compared not only to regions but to regions and other factors”.

He said, distributing the vaccine gradually, could “destroy” any risk.

The airline will be too late to recover if governments introduce alternative routes “until the epidemic is controlled”, the IEA said. Demand for oil can take a long time to recover as domestic work continues with the introduction of more and more electronic appliances.

Similarly, the commission also said that Opec and its affiliates need to “open up tapes” to boost oil supply and make the world a better place. The Opec + team is expected to raise production by 2m b / d between May and July.