Open Demo Account
Home / Market Update / Commodities / OPEC Maintains Positive Expectations for Demand Growth
OPEC

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.

Tags

Check Also

Oil Prices Plunge as OPEC+ Increases Supply Amid Global Trade Fears

A significant shift in global oil markets occurred as major oil-producing nations announced a larger-than-anticipated …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends