OPEC: Inflation And Ukraine War Could Slow Oil Demand Growth

OPEC left on Tuesday its oil demand growth view unchanged but warned that Russia’s war in Ukraine and the spiraling inflation could this year impact oil consumption growth, which “remains under assessment.” In its closely watched Monthly Oil Market Report today, OPEC left its outlook of global oil demand growth at 4.2 million barrels per day (bpd), “for the time being”, but flagged “the extremely high uncertainty surrounding global macroeconomic performance.” “However, this forecast is subject to…