(Energy Analytics Institute, 12.Oct.2022) — The Organization of Petroleum Exporting Countries (OPEC) now forecasts oil demand to dip below 100 million barrels per day (MMb/d) in 2022 owing a lower global economic forecast amid ongoing uncertainties and rising challenges impacting major economies.
OPEC forecasts oil demand to reach 99.7 MMb/d in 2022, down 0.4 MMb/d compared to its previous forecast, while demand is expected to reach 102 MMb/d in 2023, down 0.7 MMb/d respectively, the organization revealed 12 October 2022 in its Monthly Oil Market Report (MOMR).
By Aaron Simonsky. © Energy Analytics Institute (EAI). All Rights Reserved.