OPEC sees well supported oil market in 2022, despite Omicron
The Hindu
OPEC on Tuesday stuck to its forecast for robust growth in world oil demand in 2022 despite the Omicron coronavirus variant and expected interest-rate hikes, predicting that the oil market would remai
OPEC on Tuesday stuck to its forecast for robust growth in world oil demand in 2022 despite the Omicron coronavirus variant and expected interest-rate hikes, predicting that the oil market would remain well supported through the year.
In a monthly report, the Organisation of the Petroleum Exporting Countries (OPEC) said it expected world oil demand to rise by 4.15 million barrels per day (bpd) this year, unchanged from its forecast last month.
"Monetary actions are not expected to hinder underlying global economic growth momentum, but rather serve to recalibrate otherwise overheating economies," OPEC said in the report.
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