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OPEC Maintains Positive Expectations for Demand Growth

M. Ali 10 June, 2021 6:47 pm Commodities, Market Update

The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for demand growth this year.

The global demand for crude oil is expected to rise by 6 million barrels per day, reaching 96.58 million barrels a day, according to OPEC’s monthly report released on Thursday.

The forecasted demand for the fall was revised to 9.3 million barrels per day, down from about 9.4 million barrels per day.

Meanwhile, OPEC expects market supply will grow by 800,000 barrels per day to an average of 63.7 million barrels per day.

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