Adam had the rundown on OPEC's monthly report here:
Reuters, too, have followed up with a report:
- OPEC ... forecasts ... robust global oil demand growth in 2022 and 2023
- citing signs that major economies were faring better than expected despite headwinds such as surging inflation
- Oil demand (forecasts) unchanged from last month
- "Oil demand in 2023 is expected to be supported by a still-solid economic performance in major consuming countries, as well as potential improvements in COVID-19 restrictions and reduced geopolitical uncertainties"
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OPEC are probably right, despite all the ructions seen in markets since the CPI report overall economies are gathering pace. The risk is overzealous central banks plunge everyone into recession, of course.
