OPEC comments in its latest monthly report
- Global oil demand to rise by 3.28 mil bpd to 99.86 mil in 2022
- Sticks to forecast of 2021 global oil demand, that it will rise by 5.95 mil bpd
- Says its oil output rose by 590k bpd in June to 26.03 mil bpd
- Sees global oil demand at 28.7 mil bpd in 2022 - up by 1.1 mil bpd from 2021
If anything, the headline is what stands out and that just means that they will be pushing ahead with easing output cuts in the months ahead. That also reaffirms the more bullish outlook in the oil market going into next year.
