OPEC kept unchanged its forecasts for the increase in oil demand in 2022 to 4.2 million barrels per day, in its monthly report on the world market that it published today, as broadcast by foreign agencies.
The Organization expects oil demand in the Organization for Economic Co-operation and Development (OECD) group of countries to grow by 1.8 million barrels per day, while outside the OECD demand is expected to increase by 2.3 million barrels.
For OECD countries, optimism is based on the assessment that a supportive environment from fiscal and monetary policies will offset the negative impact of the rapid spread of the coronavirus’s mutation in economic activity and especially in the services sector.
OPEC also notes in its report that industrial activity is expected to accelerate further, while mobility has recovered significantly “with domestic, regional and international flights already showing signs of recovery”.
Oil prices are moving up today with the crude for March delivery gaining 68 cents or 0.8% at $ 90.34 a barrel and Brent April adding 55 cents or 0.6% to $ 92.10. the barrel.
Source: Capital
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