About face in 2021 demand outlook OPEC+ alliance set to add more than 2 mil b/d Global stocks 29 million barrels above 5-year average OPEC has increased its oil demand outlook for 2021 just as the bloc and its allies plan to unleash more crude supplies over the next few months. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now In its closely watched monthly oil market report released April 13, OPEC raised its demand forecast by 190,000 b/d from its March estimate, expecting consumption to average 96.46 million b/d this year, citing economic stimulus programs and a further easing of COVID-19 lockdown measures. Year on year, global oil demand was projected to grow 5.95 million b/d in 2021, compared with the 5.89 million b/d forecast in March. Only two weeks ago, OPEC cut its 2021 oil demand growth forecast by about 5% […]