Global oil demand is expected to average 96.4 million barrels per day (bpd) this year, OPEC said on Thursday, revising down its forecast by 160,000 bpd after cutting expectations of fourth-quarter consumption by 330,000 bpd compared to last month’s outlook. In its closely watched Monthly Oil Market Report (MOMR), OPEC sees oil demand growth in 2021 at 5.
65 million bpd over 2020, compared to 5.82 million bpd expected in the October report. This was the second consecutive downward revision in 2021 oil demand growth outlook, after the cartel…OPEC Cuts 2021 Global Oil Demand Forecast Again
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