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OPEC Revises 2021 Oil Demand Growth Forecast

Adel 13 October, 2021 3:52 pm Commodities, Market Update

In its monthly report published on Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it lowered the 2021 oil demand growth forecast to 5.82 million (bpd) from 5.96 million bpd, per Reuters.

Raising expectations of non-OPEC supply growth by 100,000 barrels per day in 2022

Maintaining the global economic growth forecast unchanged in 2021 and 2022

Reducing global oil demand growth forecasts by 160,000 barrels per day in 2021

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