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Demand for oil in the world market will increase by 2023. senior analyst of the International Energy Agency (IEA) on oil markets. Christophe Barrett said April 23 at the 3rd SOCAR International Downstream Caspian and Central Asia – Trade. Logistics. Refining and Petrochemicals Forum.
He said the main sources of increasing oil demand will be China and India.
`By 2023. we expect a narrowing gap between demand and supply. Also. by this time. the United States will begin an active search for new markets of energy resources.` said Barrett.
He stressed that IEA expects an increase in shale oil production and exports to Europe and Asia in the long term. which will have a significant impact on the balance of the international energy market as well as reduce the gap between supply and demand.
Barrett said the use of electric vehicles. which can reduce the consumption of gasoline and diesel fuel by 1.800 barrels per day as well as the transition of many marine vessels to fuel oil with a low sulfur content beginning from 2020 will play an important role in saving energy in the medium term.
