Standard Chartered analysts warned that they think there is a significant downside risk to 2022 oil demand growth. In a new report sent to Rigzone this week, Standard Chartered forecasted that overall 2022 global oil demand will stay below 100 million barrels per day. In the report, the company projected that demand will increase from 97.5 million barrels per day (MMbpd) in 2021 to 98.9 MMbpd this year. Looking at specific quarters, the forecast expects second quarter demand to come in at 97.3 MMbpd, third quarter demand to come in at 99.4 MMbpd, and fourth quarter demand to come in at 100.5 MMbpd. OECD oil demand will rise by 1.07 MMbpd year on year and account for 45.8 MMbpd of the total 2022 forecast, while non-OECD demand will rise by 0.37 MMbpd and account for the remaining 53.1 MMbpd, according to the report. North America demand is expected to […]