This was contained in the OPEC’s Oil Market Report for November 2021 which was released on Thursday.
The report read in part: “World oil demand growth is revised lower by around 0.16 mb/d, compared to last month’s assessment, to stand at 5.7 mb/d.
”Revisions were mainly to account for slower than anticipated demand from China and India in Third Quarter 2021. Global oil demand is now estimated to reach 96.4 mb/d in 2021.”
It added that for 2022, growth in global oil demand remains unchanged compared to the previous month’s assessment, to stand at 4.2 mb/d.
According to it, the world total demand in 2022 was now estimated to reach 100.6 mb/d, around 0.5 mb/d above 2019 levels.
It said marginal upward revisions in Organisation for Economic Cooperation and Development (OECD) Europe, due to better economic views in some European countries, were offset by softer growth in industrial fuel demand, in OECD America and Latin America.
Nigerian government has described as "false", the allegations made by cryptocurrency exchange platform, Binance, that… Read More
The military is saddled with the responsibility of safeguarding a country's territorial borders and it's… Read More
Nigerians have expressed dissatisfaction with the new cybersecurity levy imposed by the Central Bank of… Read More
The number of students in most Nigerian universities engaging in businesses has been rising in recent times. This… Read More
Nigerian superstar Simi has spoken up about the inspiration behind the controversial title of her… Read More
Presidential candidate of the Labour Party in the 2023 general election, Mr Peter Obi, has… Read More
This website uses cookies.