Reuters: OPEC is ready to cut its “optimistic” forecasts for oil demand

Sources told Reuters that tomorrow the Organization of Petroleum Exporting Countries will cut its forecast on growth in oil demand next year, as the delta strain continues to influence the economic recovery.

On September 1, OPEC Plus raised its crude oil demand growth forecast for next year to 4.2 million barrels per day, up from its previous forecast of 3.28 million barrels per day.

OPEC currently has the highest expectations for demand growth among the three main sources of such forecasts, namely, OPEC, the US Energy Information Administration, and the International Energy Agency. questlatest to publish its latest monthly report on Tuesday.

Read More About: Business News

Leave a Reply