Global Oil Demand to Exceed Pre-Pandemic Levels Next Year, OPEC Says

The world’s thirst for oil will exceed pre-pandemic ranges subsequent yr, with enhancing vaccination charges and growing public confidence in governments’ administration of Covid-19 spurring a restoration in journey, the Group of the Petroleum Exporting International locations stated Monday.

In its carefully watched month-to-month market report, OPEC raised its forecast for international oil demand for 2022 by slightly below 1,000,000 barrels a day to 100.8 million barrels a day, increased than 2019’s demand stage of 100.3 million barrels. OPEC had beforehand forecast a return to 2019 demand ranges within the second half of subsequent yr, however Monday’s report was the primary time the cartel stated it expects a return to pre-Covid-19 ranges for the total yr. | World Oil Demand to Exceed Pre-Pandemic Ranges Subsequent 12 months, OPEC Says


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