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In its monthly report issued today, the Organization of the Petroleum Exporting Countries (OPEC) lowered the forecast for global oil demand growth by 100,000 barrels per day in both 2022 and 2023.
OPEC also lowered the demand growth forecast for OPEC oil by the same amount during 2022, while reducing it by 200,000 barrels per day in 2023.
Turning to global economic growth forecasts, the organization kept its growth forecasts during 2022 at 2.7% and 2.5% in 2023.
Source: Al Manar website