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8/12, 12:50 PM (Source: TeleTrader)
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OPEC reaffirms 2021, 2022 global demand forecasts

The Organization of the Petroleum Exporting Countries (OPEC) reaffirmed its global oil demand forecasts for 2021 and next year in its latest monthly oil report released on Thursday.

According to the August report, OPEC expects crude demand to average 96.6 million barrels per day this year, unchanged compared to its previous forecast.

Meanwhile, the cartel stuck to its prediction of demand rising by 3.3 million b/d in 2022 to average 99.9 mb/d, while surpassing the 100 mb/d mark in the second half of next year.

Baha Breaking the News (BBN) / JC