OPEC issues bullish oil demand forecast


OPEC revised up its global oil demand forecast for 2022 to 100.8 million barrels a day, higher than the 100.3 million bpd level before the coronavirus pandemic. "Improvements in vaccination rates and a potential increase in public confidence in managing Covid-19 is anticipated to be more widespread in 2022, further supporting the recovery of oil demand, particularly transportation fuels," the cartel said in its report.

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