Vienna-Sana
The Organization of Petroleum Exporting Countries (OPEC) today fixed its forecast for global demand for oil this year, pointing to risks facing consumption due to high inflation and the repercussions of the Ukrainian crisis.
In its monthly report, the organization expected the global demand for crude oil to grow by 4.15 million barrels per day during 2022, pointing out that expectations for oil demand are subject to changes in the coming weeks, with the effects of geopolitical tensions becoming clear.
OPEC also fixed its expectations for the growth of supply from outside the world in 2022 at 300,000 barrels per day, and revised its estimates for the growth of oil demand in 2021 by 0.05 million barrels per day, to stop growth at 5.7 million barrels per day.
The report indicated that the production of OPEC members increased last February by 440,000 barrels per day to 28.473 million barrels per day.
The OPEC Plus alliance, which includes OPEC and non-OPEC producers, continues to ease production restrictions by pumping 400,000 barrels per day, to stabilize the reduction at 2.6 million barrels per day during March.
Follow Sana's news on Telegram https://t.me/SyrianArabNewsAgency
