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Gas shortage prompts power plants to switch to oil, increasing demand

Soaring natural gas and coal prices are pushing power generation companies and manufacturers to switch to oil, a trend that could add half a million barrels a day to global demand, the agency said on Thursday. international energy.

In its monthly market report, the IEA increased its forecast for global oil demand for this year and the next by 170,000 and 210,000 barrels per day, respectively, but added that the cumulative effect of the energy crisis could reach 500,000 barrels per day. from September to the first quarter of next year.