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1/18, 1:30 PM (Source: TeleTrader)
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Estimate for 2022 world oil demand unchanged - OPEC

Organization of the Petroleum Exporting Countries (OPEC) announced on Tuesday that its world oil demand growth projection for 2022 stands at 4.2 million barrels per day (bpd), in line with its previous Monthly Oil Market Report. The total oil consumption is expected to average 100.8 million bpd this year, according to the alliance.

"While the impact of the Omicron [coronavirus] variant is projected to be mild and short-lived, uncertainties remain regarding new variants and renewed mobility restrictions, amid an otherwise steady global economic recovery," OPEC said in its January report.

For 2021, the growth estimate was also unchanged at 5.7 million bpd with an average demand of 96.6 million bpd.

Baha Breaking News (BBN) / MS