World demandfor oil will not recover even 3-4 years

International Energy Agency (IEA) has lowered the forecast for the consumption of oil in the world in the next five years.

reported agency Bloomberg. The level of oil demand in 2008 (85.76 million barrels per day) will be exceeded only in 2012 when it reached 86.76 million barrels a day.

Demand for oil in each of the years indicated in the forecast was lowered to 3 million barrels a day. Annual growth in consumption from 2008 till 2013 will be 0.6 percent, or 540 thousand barrels per day. This is one of the lowest increases in demand for the relevant time periods in the past 100 years.

Reducing the demand for hydrocarbons is due to global economic crisis triggered by the first global recession in postwar history. Consumption of oil in most developed countries is rapidly declining, and in developing the largest rate of growth has slowed.

worth noting that the IEA in the five-year forecast of a positive alternative assessment guided the growth of world GDP, provided by the International Monetary Fund. Under this scenario, in the years 2012-2014 global economy will grow by 5 percent annually. If, however, realized the negative scenario (growth in global GDP by 3 per cent per annum), by 2014 oil demand at the level of 2008 is restored.

However, in his report, IEA notes that the slowdown in demand for oil will help to delay a new oil crisis, which arose due to the lack of offers in the world market. This, in turn, could lead to a sharp rise in prices for hydrocarbons and the new economic difficulties in most states.