MOSCOW, April 12. /TASS/. The Organization of Petroleum Exporting Countries (OPEC) revised the outlook of global oil demand growth in 2022 downward by 0.5 mln barrels per day to 3.7 mln barrels daily as the world’s economy growth rate is slowing down, OPEC said in its April report.
Growth rates of the global economy in 2022 will decelerate to 3.9% from 4.2% expected by OPEC in the previous forecast, due to the conflict in Eastern Europe and continuing impact of the coronavirus pandemic.
OPEC forecasts oil demand growth will slow down in second and third quarters to 3.5 mln barrels per day amid the current geopolitical situation in Eastern Europe.