OPEC May Cut 2022 Oil Demand Forecast

OPEC could revise down its forecasts for global oil demand in 2022, in view of the increased uncertainty with the Delta variant, two OPEC+ sources told Reuters on Friday. OPEC is scheduled to release its closely-watched Monthly Oil Market Report (MOMR) on Monday, in which it could cut its oil demand estimates for next year, after keeping its demand outlook unchanged in the two previous reports, according to the sources. “OPEC may review the figures again for the upcoming monthly report,” one of the OPEC+ sources told Reuters. In its…