BAKU, Azerbaijan, April 13. Global oil demand growth in 2022 is estimated at 2.5 million barrels per day (mb/d) year-on-year, Trend reports via monthly oil outlook from OPEC.
The forecast has stayed broadly unchanged from the previous outlook.
Mainly, in the 1Q2022 global oil demand is forecast at almost 99.45 mb/d, in 2Q2022 - at 98.29 mb/d, in 3Q2022 - 99.51 mb/d, and in 4Q2022 - at 101.02 mb/d.
Thus, total world oil demand over the last year is estimated to have averaged 99.57 mb/d.
"However, in order to reflect historical data, oil demand in 4Q22 was adjusted slightly down in all OECD countries. At the same time, oil demand in non-OECD countries was revised higher, reflecting improvements in Latin America, the Middle East and Russia," the report added.
Meanwhile, world liquids demand growth in 2023 is expected to stand at 2.3 mb/d. Thus, total world liquids demand for the whole years is expected at an average 101.89 mb/d.