Energy and commodities markets are essential, as the future global economy will continue to be fueled by the production and consumption of everything from oil, natural gas, and LNG to corn, soybeans, and steel.
OPEC now predicts 2022 return to pre-pandemic oil demand, in bullish case for output hikes
OPEC is more bullish on the global economic recovery for next year, projecting world oil demand to exceed pre-pandemic levels in 2022, while the bloc and its allies plan to continue gradually raising crude output.
n its closely watched oil market forecast released Sept. 13, OPEC raised its forecast of 2022 global demand growth to 4.15 million b/d, a hefty hike from last month's 3.28 million b/d. It said the higher 2022 estimate, with demand now expected to hit 100.83 million b/d for the year, was driven by a stronger than anticipated recovery in various fuels and a steady economic outlook in all regions.