Highlights Energy crisis, gas-to-oil switching could boost oil demand by 500,000 b/d IEA revises up oil demand growth to 5.5 mil b/d in 2021, 3.3 mil b/d in 2022 Q4 global output to rise 2.7 mil b/d on OPEC+, Hurricane Ida recovery Agency warns of investment need, highlights falling effective spare capacity An acute shortage in natural gas and coal supplies triggering a massive switch to oil products, along with improving mobility trends, has boosted the global oil demand outlook, but supply could catch up early 2022 should OPEC+ stick to its plan to bring crude back online, the International Energy Agency said Oct. 14. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now The IEA raised its global oil demand estimate by 170,000 b/d to 96.3 million b/d in 2021 and by 210,000 b/d in 2022 to post-COVID-19 levels of 99.6 million b/d […]