OPEC Sees Strong Oil Demand Recovery This Autumn

Global oil demand will rise by 6 million barrels per day (bpd) this year from the lows of 2020, led by strong consumption in China and the United States, especially in the second half of 2021 with growing economies and border reopenings, OPEC said on Thursday. In its Monthly Oil Market Report (MOMR), the organization continues to expect total global oil demand to average 96.58 million bpd this year, up from 90.63 million bpd in 2020, despite the COVID resurgence and renewed lockdowns in key economies, including the Eurozone, Japan, and India. “However,…