In your last monthly report, the US Energy Information Administration (EIA) said it lowered its forecast for global oil demand growth by 60,000 barrels per day (bpd) to 5.32 million bpd in 2021, as reported Reuters.
Featured statements
“The EIA raises the forecast for world oil demand growth in 2022 by 330,000 bpd, now forecasting a 3.83 million bpd year-on-year increase.”
“The EIA leaves world oil demand growth unchanged in 2021 at a year-on-year increase of 5.38 million bpd.”
“The EIA leaves world oil demand growth unchanged in 2022 with a year-on-year increase of 3.50 million bpd.”
Market reaction
Crude oil prices continue to fall to the downside after this report and it was last seen that the barrel of West Texas Intermediate (WTI) it lost 0.8% on the day at $ 64.15.
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