The bottom is gone: Oil demand will only grow

US, WASHINGTON (ORDO NEWS) — Oil demand will begin to grow in May. The bottom will be passed in the near future – according to Chevron. Michael Wirth, chairman of the board of directors, said in an interview with CNBC that the minimum mark could have been reached even in April.

Recall, according to the International Energy Agency, the demand for “black gold” in the II quarter will decrease by 23 million barrels per day in annual terms.

It is worth adding that futures quotes indirectly speak about the growth in oil demand. Having reached the bottom, they began a fairly confident recovery. On Friday, trading in the Brent trademark ended at around $ 26.52, WTI – at around $ 19.7.

The head of the Gazprom Neft company, Alexander Dyukov, said that quotes could rise to $ 30 in the summer, but you should not expect rapid growth.

We add that from May 1, the largest oil producers began to reduce production, and the President of OPEC, the Minister of Oil Algeria Mohammed Arkab called on partners

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