Forecast: OPEC lowers its estimate of oil demand growth


October 13, Fineko/abc.az. OPEC has lowered its forecast on the growth of oil demand in the world for 2021. The forecast on oil demand growth is no longer 6 million b/d, but 5.8 million b/d.

ABC.AZ reports that this is stated in October’s report of the cartel.

OPEC still expects daily oil demand to increase by 4.2 million barrels per day by 2022.

According to OPEC’s estimates, in 2021 global oil demand will average 96.6 million b/d.

The organization predicts that by 2022 oil demand will reach 100.8 million b/d, which will lead to more effective management of the COVID-19 pandemic.