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7/15, 1:50 PM (Source: TeleTrader)
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OPEC sticks to 2021 world oil demand forecast

The Organization of the Petroleum Exporting Countries (OPEC) expects global oil demand to average 96.6 million barrels per day this year, unchanged compared to its last forecast, according to the cartel's monthly market report released on Thursday.

Meanwhile, OPEC noted it predicts demand will rise by 3.3 million b/d in 2022, while US oil demand is seen "only marginally below" 2019 pre-pandemic levels.

The July OPEC report also said demand in China and India is projected to exceed 2019 levels next year amid expectations of a solid global economic recovery from the COVID-19 crisis.

Breaking the News / JC