OPEC Optimistic About Oil Demand in 2022

OPEC on Monday raised its forecast for global oil demand in the first quarter of 2022 but left its full-year growth forecast unchanged, saying the Omicron mutant from the coronavirus would have a slight impact as the world coped with the pandemic.

The Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report that it expected oil demand to average 99.13 million barrels per day in the first quarter of 2022, 1.11 million more than its forecast last month.