OPEC maintains forecast for high global oil demand at 2.2 million bpd

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The Organization of Petroleum Exporting Countries (OPEC) continues to forecast that global oil demand will increase by 2.2 million barrels per day (bpd) in 2023, according to a monthly report published on Tuesday (17).

The cartel also reiterated its estimate of an increase in global demand in 2022 of 2.5 million bpd.

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In the document, however, OPEC highlights that this year’s projection is subject to uncertainties such as global economic developments, changes in policies to contain Covid-19 and geopolitical tensions.


OPEC also maintained its forecast for an increase in oil supply between countries outside the group in 2023, at 1.5 million bpd, according to a monthly report published on Tuesday.

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The countries that should contribute most to the increase in supply in 2023 are the USA, Norway, Brazil, Canada, Kazakhstan and Guyana, says OPEC. On the other hand, declines in supply from Russia and Mexico are expected.

OPEC also confirmed its estimate of an increase in supply in 2022, at 1.9 million bpd.

Also in the report, OPEC informs that its production grew by 91 thousand bpd in December compared to November, to an average of 28.97 million bpd, according to secondary sources.

Source: CNN Brasil

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