Fatih Birol, Executive Director of the International Energy Agency (IEA), made statements about the future of the oil market. In his statement, Birol said that the growth forecasts in global oil demand could be revised based on the economic growth expectations of China and some other countries, and that China would be accepted as the main indicator when these price revisions were made.
Answering questions about whether there is a decrease in demand forecasts, Birol said, “Yes, but there is also the possibility of an upward revision, so we will see how China’s economic outlook will look. However, in any case, we see a contraction in the second half of the year.”
