November 15, 2022

OPEC lowers forecast for global oil demand growth

categories : oil and gas

Baghdad / NINA / - The Organization of Petroleum Exporting Countries (OPEC) has lowered the forecast for the growth of global demand for oil in both 2022 and 2023.

According to the monthly report of the Organization of the Petroleum Exporting Countries, the expectations of demand growth for OPEC oil decreased by 100,000 barrels per day during 2022, while it decreased by 200,000 barrels per day in 2023.

Turning to global economic growth forecasts, the organization kept its growth forecasts during 2022 at 2.7%, and 2.5% in 2023.

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