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Mon Sep 13, 2021, 10:57 AM

Global Oil Demand to Exceed Pre-Pandemic Levels Next Year, OPEC Says

MARKETS | COMMODITIES | OIL MARKETS

Global Oil Demand to Exceed Pre-Pandemic Levels Next Year, OPEC Says

Cartel raises forecast for 2022, citing travel rebound

By David Hodari
https://twitter.com/davidhodari
david.hodari@wsj.com
Updated Sept. 13, 2021 9:28 am ET

The world’s thirst for oil will exceed pre-pandemic levels next year, with improving vaccination rates and increasing public confidence in governments’ management of Covid-19 spurring a recovery in travel, the Organization of the Petroleum Exporting Countries said Monday.

In its closely watched monthly market report, OPEC raised its forecast for global oil demand for 2022 by just under a million barrels a day to 100.8 million barrels a day, higher than 2019’s demand level of 100.3 million barrels. OPEC had previously forecast a return to 2019 demand levels in the second half of next year, but Monday’s report was the first time the cartel said it expects demand to beat pre-Covid-19 levels for the full year.

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Reply Global Oil Demand to Exceed Pre-Pandemic Levels Next Year, OPEC Says (Original post)
mahatmakanejeeves Sep 13 OP
louis-t Sep 13 #1

Response to mahatmakanejeeves (Original post)

Mon Sep 13, 2021, 12:02 PM

1. BIDEN'S FAULT! BIDEN'S FAULT!

I had a guy tell me the other day that he sold his gas guzzler truck because he "knew that gas prices would go up under Biden". The only thing I could say was "Have you noticed the amount of traffic lately? Do you know what supply and demand is?" Silence. I have no time for such stupidity.

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