The low oil demand expected for next year, according to the IEA, is due to the aviation sector

The International Energy Agency (IEA) predicts an oil demand in 2021 much lower than in 2019 as a result of the problems in the aviation sector, according to data published this Tuesday (16).

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According to the agency, the first forecasts for 2021, The IEA anticipates a limited increase in world demand of 5,7 million barrels per day (mbd) compared to 2020, a year marked by the Covid-19 pandemic.

The total demand in 2021 would be 97,4 mbd, 2,4 mbd below the 2019 level, mainly due to weak aviation kerosene demand, indicates the EIA in its monthly report.

“The aviation sector is facing an existential crisis and its demand for petroleum products will remain under pressure after this year, even if other fuels return to pre-Covid-19 levels”, says the document.

Even for this year, the IEA is a little less pessimistic about the effects of the pandemic and, although it maintains a forecast of a historical drop in demand of 8,1 mbd, the projection represents almost 500.000 barrels per day more than the May estimate.