OPEC expects demand of 100 million barrels per day
OPEC assures that the new variant of Covid-19 will have a slight impact, so that oil consumption would not be affected during this 2022
The Organization of Petroleum Exporting Countries (OPEC) considers that the new omicron variant of Covid-19 will have a “slight and short-lived” impact on world demand for crude oil, for which it expects that consumption will exceed 100 million barrels daily in 2022, thus exceeding pre-pandemic levels.
In the latest edition of its monthly bulletin, the oil organization confirms its expectations that world oil demand will grow by 5.66 million barrels per day (mb/d) in 2021, up to an annual average of 96.63 mb/d. d.
As for its forecast for 2022, a growth in demand of 4.15 mb/d is expected, up to a total of 100.79 mb/d, which, if finally confirmed, would mean the highest annual oil consumption.
In this sense, although the impact of the omicron variant is expected to be slight and short-lived, OPEC warns that “uncertainties persist” regarding the new variants and the renewed mobility restrictions, in the midst of a recovery otherwise steady global economy, despite current inflation levels, supply chain bottlenecks and ongoing trade issues.
Likewise, OPEC points out, in anticipation of the change in the monetary policy of several of the main central banks, such as the Federal Reserve of the United States or the Bank of England, that the monetary actions of these institutions are not expected to hinder the underlying impulse. of global economic growth, but rather serve to recalibrate economies that would otherwise overheat.
Source: dpa
