fbpx
×






    *All information provided is confidential and your privacy is protected

    FRANK LEO & ASSOCIATES

    #1 RE/MAX TEAM IN TORONTO & THE GTA**
    #1 RE/MAX TEAM IN CANADA***
    #1 RE/MAX TEAM IN THE WORLD***

    The World Might Consume More Oil in 2022

    Even though electric cars are taking over the streets and big companies are trying to be better for the environment, the world could still consume more oil in 2022 than ever before. The global energy demand rebounded well this year as pandemic restrictions eased, and is expected to continue rising in 2022. 

    The International Energy Agency predicts that global oil demand will rise by 3.3 million barrels per day next year to 99.5 million barrels per day. The would match the demand record back in 2019, before the novel coronavirus. The agency doesn’t even expect Omicron to derail its rebound. They expect the demand for road transportation fuels and petrochemicals to continue to post healthy growth.

    In a report, the IEA wrote “new containment measures put in place to halt the speed of the virus are likely to have a more muted impact on the economy versus previous COVID-19 waves, not least because of widespread vaccination campaigns,” The IEA monitors energy market trends for the world’s richest countries.

    For more information about the source click HERE