Oil demand to exceed pre-coronavirus levels in 2022: OPEC ...Kuwait

The New Arab - News

OPEC said on Monday it expects global oil demand to exceed its pre-pandemic level next year thanks to the roll out of vaccines and economic rebound. "As vaccination rates rise, the Covid-19 pandemic is expected to be better managed and economic activities and mobility will firmly return to pre-Covid-19 levels," the Organization of the Petroleum Exporting Countries said in its monthly report on the oil market. As economic activity ramps up OPEC expects global oil demand to grow by 4.2 million barrels per day (mbd) on average next year. That is 0.9 mbd higher than its estimate last month, and takes global oil demand to 100.83 mbd on average next year, which is above the

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Last updated : 13 September 2021 clock 07:30 PM

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