- Analytics
- News and Tools
- Market News
- OPEC revises 2021 oil demand growth forecast down to 5.82 million barrels per day
OPEC revises 2021 oil demand growth forecast down to 5.82 million barrels per day
In its monthly report published on Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) announced that it lowered the 2021 oil demand growth forecast to 5.82 million barrels per day (bpd) from 5.96 million bpd, per Reuters.
Additional takeaways
"OPEC keeps 2022 oil demand growth unchanged at 4.15 million bpd."
"OPEC sees rise in natural gas and thermal coal prices encouraging increased gas-to-oil switching."
"OPEC raises estimated demand for its crude in 2022 by 100,000 bpd to 28.8 million bpd."
"OPEC says its output rose 490,000 bpd to 27.33 million bpd in September."
Market reaction
Crude oil prices showed no immediate reaction to this report and the barrel of West Texas Intermediate was last seen trading at $80.10, where it was down 0.55% on a daily basis.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
