OPEC+ cuts 2022 oil demand growth forecast slightly to 5.7M bpd – Reuters
|The Joint Technical Committee (JTC) of OPEC and its allies (OPEC+) cut 2022 oil demand growth outlook slightly to 5.7 million barrels per day (bpd), Reuters reports, citing sources familiar with the matter.
The sources added that the committee left their 2021 oil demand growth forecast steady at 4.2 million bpd.
Market reaction
WTI is little affected by above the report, keeping its range just below $83 so far this Friday.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.