OPEC, unlike IEA, sees lower 2022 oil demand growth | Reuters
OPEC on Thursday cut its 2022 forecast for growth in world oil demand for a third time since April, citing the economic impact of Russia's invasion of Ukraine, high inflation and efforts to contain the coronavirus pandemic.
The view from the Organization of the Petroleum Exporting Countries contrasts with that of the International Energy Agency, which earlier on Thursday raised its demand outlook.
OPEC in a monthly report said it expects 2022 oil demand to rise by 3.1 million barrels per day (bpd), or 3.2%, down 260,000 bpd from the previous forecast.
OPEC left its 2023 growth projection unchanged at 2.7 million bpd.
Oil use has rebounded from the worst of the pandemic and is set to exceed 2019 levels this year even after prices hit record highs. However, high crude prices and Chinese coronavirus outbreaks have eaten into 2022 growth projections. read more
No comments:
Post a Comment