OPEC Lowers Forecast For World Oil Demand Growth In 2022 To 2.5Mln Bpd - Report

Sumaira FH Published November 14, 2022 | 05:20 PM

OPEC Lowers Forecast for World Oil Demand Growth in 2022 to 2.5Mln Bpd - Report

MOSCOW (UrduPoint News / Sputnik - 14th November, 2022) OPEC has downgraded its forecast on the world oil demand growth in 2022 by 100,000 barrels per day to 2.5 million barrels per day, according to its fresh report published on Monday.

"The world oil demand growth forecast for 2022 is revised down by 0.1 mb/d to now stand at 2.5 mb/d ...

oil demand in 3Q22 and 4Q22 is revised lower due to the zero-COVID-19 policy in China, ongoing geopolitical uncertainties and weaker economic activities," the report read.

The forecast on the oil demand growth in 2023 is revised down by 0.1 million barrels per day from the previous assessment to stand at 2.2 million barrels per day, the report added.

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