IEA: Omicron To Temporarily Slow Global Oil Demand Recovery

The surge in COVID cases is set to temporarily slow the recovery in global oil demand, but the impact of the Omicron variant will likely be more muted than previous waves and will not upend the current demand recovery, the International Energy Agency (IEA) said on Tuesday. The recent spike in COVID cases is set to slow demand recovery in the coming weeks, with jet fuel demand most affected, the IEA said in its latest Oil Market Report for December.    Due to new restrictions on international travel, the IEA revised down slightly—by…