OPEC forecasts oil demand to increase to pre-crisis level in 2022

OPEC forecasts oil demand to increase to pre-crisis level in 2022

The Organization of the Petroleum Exporting Countries (OPEC) expects oil demand to grow by 4.2 million barrels per day in 2022. This is stated in the November OPEC report.

The organization believes that the demand for oil next year may reach 100.6 million barrels, which is 0.5 million barrels per day higher than the pre-crisis level.

At the same time, OPEC notes that oil consumption will go at a slightly faster pace in the European countries of the Organization for Economic Cooperation and Development (OECD), but this will be offset by slower demand in the American OECD countries.

In addition, the document says that global oil demand in 2021 will grow by 5.7 million barrels per day, which is 160 thousand barrels per day less than in the previous report.

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