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OPEC+ trims 2021 oil demand view, keeps 2022 steady

Arab World Materials 29 October 2021 13:00
OPEC+ trims 2021 oil demand view, keeps 2022 steady

An OPEC+ committee trimmed its forecasts for global oil demand growth this year to 5.7 million barrels per day from 5.8 million, two sources said, amid a continuing strong recovery in consumption from 2020's collapse, Trend reports with reference to Reuters.

The Joint Technical Committee, which met on Thursday, left its demand forecast for next year steady at 4.2 million bpd, one source said.

That source said the revision for 2021 was "nothing to worry about" as it was an update of actual data and rounding.

Ministers from the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, meet on Nov. 4 to decide output policy.

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