OPEC wil likely revise down its 2022 oil demand growth forecast on Monday, two OPEC+ sources said, as the spread of the Delta coronavirus variant puts the speed of a recovery in fuel use in doubt.
On Sept. 1, separate sources said the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, increased its 2022 oil demand forecast to 4.2 million barrels per day (bpd) from 3.28 million bpd previously.
The new figure was seen as optimistic by some in the group, likely prompting revisions, the two OPEC+ sources said. OPEC is scheduled to make its latest supply and demand forecasts public in a report on Monday.
"OPEC may review the figures again for the upcoming monthly report," one of the sources said, declining to be named.
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