The International Energy Agency (IEA) released a new Oil Market Report (OMR) today.

In its OMR, the IEA said countries across the globe have been steadily consuming more and more oil over the past few years.

IEA World Oil Demand (mb/d = Millions of Barrels per Day), Feb. 2018

The IEA said that global oil demand growth for 2018 has increased slightly to 1.4 million barrels per day (mb/d), partly due to an optimistic GDP forecast from the IMF. This is down from 2017’s gain of 1.6 mb/d, but still remains higher than 2013-15’s level of dem...

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