In this month’s report, OPEC revised downward its 2021 estimate due to lower-than-expected actual data for the first three quarters of the year In its closely watched Monthly Oil Market Report (MOMR) on Wednesday, the cartel kept its 2022 oil demand growth forecast unchanged at 4.2 million bpd OPEC expects this year’s global oil demand to grow by 5.8 million barrels per day (bpd) from the low 2020 levels, down from last month’s estimate of 5.96-million-bpd annual growth. In its closely watched Monthly Oil Market Report (MOMR) on Wednesday, the cartel kept its 2022 oil demand growth forecast unchanged at 4.2 million bpd to average total global demand of 100.8 million bpd next year. Last month, OPEC had raised its 2022 oil demand forecast by 900,000 bpd , expecting the surge of the Delta variant to partially delay the oil demand recovery into the next year with robust economic […]