COMMENT – India could be a dampener to global oil demand as world reopens

zbynek-burival-GrmwVnVSSdU-unsplash-scaled.jpg

Most of the world is vaccinating itself and reopening, boosting expectations that growing economies would help trigger a bump in oil demand that was viscerally hit last year, but India – one of the world’s biggest importers – remains a cause of concern. The Organization of Oil Producing Countries (OPEC) said earlier this week that […]

Read more

OPEC expects global oil demand to grow 6.6% in 2021 as economies open up post vaccinations

IMG_0631.jpg

The Organization of Oil Exporting Countries (OPEC) said it expects global oil demand to grow by 6 mb/d to around 96.5 mb/d on average for the year, an increase of 6.6%, as economies continue to reopen in the post-Covid 19 phase following expanding vaccination programmes. “As with the economy, the market outlook for later this year looks especially promising.  In fact, […]

Read more

OPEC, IEA revise oil demand forecast upwards for this year

Two of the world’s prominent energy organisations—Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA)—have revised upwards their demand forecast for oil this year, which could help sustain a price rally. Demand will increase by 5.95 million barrels per day this year, which is around 70,000 barrels per day more than last […]

Read more