Highlights IEA sees US, Canada posting oil supply gains in 2021 IEA predicts oil demand to grow 5.4 mil b/d this year IEA sees ‘rapid stock draw’ in H2 London — The International Energy Agency on Feb. 11 pointed to a tightening oil market this year, despite lowering its estimate of the recovery in global oil demand this year and seeing improving non-OPEC supply growth. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The Paris-based agency predicts global oil demand will grow by 5.4 million b/d in 2021 to reach 96.4 million b/d, noting this would be around 60% of the volume lost to the pandemic in 2020. This is the fourth straight month the IEA has lowered its demand outlook given the challenges the world is having in reining in COVID-19, as it shifted its optimism to the second half of the year. “A […]