OPEC expects demand for oil to increase strongly in 2022

Economy

18-01-2022, 20:05

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Baghdad-INA
The Organization of the Petroleum Exporting Countries confirmed its expectations for a strong increase in global oil demand in 2022, despite the mutated Omicron strain of the Corona virus and expected increases in interest rates, expecting the oil market to remain well supported during the year.
OPEC said in a monthly report that it expects global oil demand to rise by 4.15 million barrels per day this year, unchanged from its prediction last month.
OPEC added, "It is not expected that monetary measures will disrupt the primary momentum of global economic growth, but rather work to re-evaluate the economies experiencing inflationary growth."
The oil market is expected to remain well supported throughout 2022." (Reuters)