- Analytics
- News and Tools
- Market News
- OPEC leaves 2022 world oil demand growth forecast unchanged at 3.36 million bpd
OPEC leaves 2022 world oil demand growth forecast unchanged at 3.36 million bpd
In its monthly report published on Tuesday, the Organization of the Petroleum Exporting Countries (OPEC) left the 2022 world oil demand growth forecast unchanged at 3.36 million barrels per day (bpd), as reported by Reuters.
Additional takeaways
"OPEC forecasts world oil demand will grow by 2.7 million bpd in 2023."
"OPEC forecasts 2023 global economic growth of 3.2%, leaves 2022 view unchanged at 3.5% and says uncertainty remains skewed to downside."
"OPEC forecasts non-OPEC oil supply will rise by 1.7 million bpd in 2023, led by the US."
"OPEC oil output rose by 234,000 bpd to 28.72 million bpd in June."
"Global demand for OPEC's crude forecast at 30.1 million bpd in 2023, up 900,000 bpd from 2022."
Market reaction
Crude oil prices continue to fall following this report and the barrel of West Texas Intermediate (WTI) was last seen trading at $99.40, where it was down nearly 4% 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
