Global Oil Demand Growth Forecast for 2021 Downgraded to 5.6Mbd From 5.9Mbd - OPEC
The forecast for growth in global oil demand in 2021 was lowered to 5.6 million barrels per day from 5.9 million barrels per day previously, OPEC Secretary General Mohammad Barkindo said at a meeting of the OPEC+ joint ministerial monitoring committee
MOSCOW (Pakistan Point News / Sputnik - 31st March, 2021) The forecast for growth in global oil demand in 2021 was lowered to 5.6 million barrels per day from 5.9 million barrels per day previously, OPEC Secretary General Mohammad Barkindo said at a meeting of the OPEC+ joint ministerial monitoring committee.
"Global oil demand [growth forecast] in 2021 is revised slightly to stand at 5.6 mb/d, and we need to keep in mind that demand contracted by a huge 9.
6 mb/d in 2020," Barkindo said.
Earlier, OPEC+ countries expected global oil demand to rise by 5.9 million barrels per day this year, after a significant reduction as a result of the coronavirus pandemic in 2020.
"We need to remember that the environment remains challenging, complex and uncertain, with the market volatility we have witnessed in the last two weeks of March a reminder of the fragility facing economies and oil demand," Barkindo also noted.