OPEC forecast on Thursday that world oil demand would rise in 2022 to reach a level similar to before the pandemic, led by growth in the United States, China and India.
The Organization of the Petroleum Exporting Countries said in its monthly report that demand next year
“Solid expectations exist for global economic growth in 2022,” OPEC said. “These include improved containment of COVID-19, particularly in emerging and developing countries, which are forecast to spur oil demand to reach pre-pandemic levels in 2022.”
The report reflects OPEC’s confidence that demand will recover robustly from the pandemic, allowing the group and its allies to further ease record supply curbs made in 2020. Some analysts have said world oil demand may have peaked in 2019.
Source: Reuters