OPEC cuts global oil demand growth forecast

OPEC cuts global oil demand growth forecast
# 11 November 2021 17:50 (UTC +04:00)

The Organization of the Petroleum Exporting Countries (OPEC) said in its Monthly Oil Market Report released on Thursday that the estimated increase in global oil demand has been revised down by 0.16 million barrels per day from the previous month to 5.7 million bpd, APA reports citing Teletrader.

The organization noted the downward revision is mainly due to "slower than anticipated" demand from China and India in the third quarter.

According to the report, global oil demand is now set to reach 96.4 million bpd in 2021, while world oil demand for 2022 is expected to reach 100.6 million bpd.

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