The IEA downgraded the forecast for the growth of global oil demand in 2021 by 0.3 million barrels per day (up to 5.5 million). This is stated in the organization’s January report.

In general, the IEA retells the global demand for raw materials at 96.6 million barrels per day. The worsening prognosis is associated with an increase in the number of cases of coronavirus. The global supply on the oil market in 2021 will grow by a million barrels per day, according to experts. IEA believe that the decline in oil production will continue in 2021 in the United States. Analysts also predict a further decline in global raw materials reserves in the world.

Earlier it became known that Russia’s revenues from oil exports in January-November last year fell by 40.9 percent compared to the same period in 2019, amounting to $66.391 billion. During this period, the physical volume of exports of raw materials from Russia fell by 11 percent (to 220.241 million tons).