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OPEC maintains forecast for oil demand growth of 4.2 mln bpd in 2022

In 2022, demand is expected to increase to 100.8 mln bpd

MOSCOW, January 18. /TASS/. OPEC left unchanged its forecast for oil demand growth in 2021 and 2022 at 5.7 mln barrels per day (bpd) and 4.2 mln bpd, respectively, amid a moderate global economic recovery, according to the organization's January report.

Thus, at the end of 2021, demand reached 96.6 mln bpd, according to OPEC. In 2022, demand is expected to increase to 100.8 mln bpd.

Oil supplies from non-OPEC countries in 2022 will increase by 3 mln bpd, the organization's report said. At the same time, oil supplies from non-OPEC countries are expected to increase by 3 mln bpd in 2022. This forecast also remained unchanged from the previous estimate.

The estimate for 2021 also remained unchanged with an increase of 0.7 mln bpd to 63.6 mln bpd. In 2021, the main production growth came from Canada, Russia, China, the United States, and Guyana. At the same time, production declined in the United Kingdom, Colombia, Indonesia, and Brazil.

As expected, in 2022, oil supplies from non-OPEC countries will increase by 3 mln bpd to 66.7 mln bpd. The main growth drivers will be the United States and Russia, as well as Brazil, Canada, and Kazakhstan.

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