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OPEC+ forecasts global oil demand growth of 5.95 million b/d in 2021

 Last Update: 2023-01-03
 Source: Internet
 Author: User

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Reuters news that the OPEC+ Joint Technical Committee maintained its forecast for global oil demand growth this year, but was concerned
about the surge in COVID-19 cases in India and elsewhere.

Specifically, OPEC+ raised its forecast for global oil demand growth by 70,000 b/d to 5.
95 million b/d
in its latest monthly oil market report.

"In 2021, global oil demand growth will still reach 6 million b/d
.
" ”

The source added that the JTC meeting also expressed concern
about the rise in COVID-19 cases in India, Japan and Brazil.

Oil prices fell on Monday on fears that India's growing COVID-19 infections could dent fuel demand
in the world's third-largest oil importer.

India recently set a world record for new daily COVID-19 cases, and India on Monday ordered its armed forces to help deal with the growing number of overwhelmed new infections in hospitals
.

OPEC+ sources told Reuters last week that compliance levels in March were calculated at 113 percent, unchanged
from February levels.

Reuters news that the OPEC+ Joint Technical Committee maintained its forecast for global oil demand growth this year, but was concerned
about the surge in COVID-19 cases in India and elsewhere.

Specifically, OPEC+ raised its forecast for global oil demand growth by 70,000 b/d to 5.
95 million b/d
in its latest monthly oil market report.

"In 2021, global oil demand growth will still reach 6 million b/d
.
" ”

The source added that the JTC meeting also expressed concern
about the rise in COVID-19 cases in India, Japan and Brazil.

Oil prices fell on Monday on fears that India's growing COVID-19 infections could dent fuel demand
in the world's third-largest oil importer.

India recently set a world record for new daily COVID-19 cases, and India on Monday ordered its armed forces to help deal with the growing number of overwhelmed new infections in hospitals
.

OPEC+ sources told Reuters last week that compliance levels in March were calculated at 113 percent, unchanged
from February levels.

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