After a three-month slide in global oil demand due to the spread of the Delta variant of COVID-19 and pandemic restrictions especially in Asia, vaccine roll-outs are set to power a rebound, the International Energy Agency (IEA) said on Tuesday. “Already signs are emerging of COVID cases abating with demand now expected to rebound by a sharp 1.6 million barrels per day (bpd) in October, and continuing to grow until end-year,” the Paris-based IEA wrote in its monthly oil report. The IEA forecast a robust rebound in the market from the fourth quarter of the year citing “strong pent-up demand and continued progress in vaccination programmes”. Still, the spread of the Delta variant of the virus in recent months caused the agency to trim its forecast for demand growth […]

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