The Organization of Petroleum Exporting Countries (OPEC) predicts that the global oil consumption rate will reach 100.8 million barrels per day by next year 2022.
According to the “OPEC” report, the organization maintained its forecast for an increase in oil demand in 2022 to 4.2 million barrels per day.
OPEC also expects the recovery in oil demand to continue in the fourth quarter of quest’year.
Prior to the release of these forecasts, oil prices fell Wednesday after a mixed ending in the previous session due to concerns that rising coal and natural gas prices in China, India and Europe will increase inflation and slow global growth, limiting the demand for oil.
The rise in the price of the dollar, which reached close to highs, also affected prices level in a year, making oil more expensive for holders of other currencies.
U.S. West Texas crude oil futures fell 71 cents, or 0.9%, to $ 79.93 a barrel, while Brent crude contracts fell 70 cents, or 0.8%, at $ 82.72 a barrel, extending losses to 23 cents on Tuesday.
On Tuesday, the International Monetary Fund cut its growth forecast for the U.S. and other major economies on concerns that disruptions in supply and supply chains, as well as cost pressures, will disrupt the global economic recovery from the pandemic. Corona virus.
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