"By contrast, demand in many advanced economies, where vehicle ownership and oil use per capita are much higher, is not expected to return to pre-crisis levels," the IEA said.
The market has drifted lower over the past few days as more European countries pause inoculations of AstraZeneca's COVID-19 vaccines due to concerns over possible serious side effects, which could slow a recovery in fuel demand.
Germany, France and Italy plan to suspend AstraZeneca PLC COVID-19 injections after reports of possible serious side effects, although the World Health Organization said there was no established link to the vaccine.
Separately, US energy firms have cut the number of oil and natural gas rigs operating by one in the first weekly drop since November, according to Baker Hughes Co.