OPEC Boosts Global Oil Demand Forecast

OPEC has increased its outlook for global oil demand in the medium and longer term, the group said in its 2022 World Oil Outlook released on Monday. OPEC said in the report that global oil demand will increase to 103 million barrels per day next year—an increase of 2.7 million bpd from 2022 and an increase of 1.4 million bpd from what the group predicted for 2023 last year. OPEC raised its oil demand outlook for the medium term as well, through 2027, increasing the outlook by 2 million bpd by the end of that period, compared to what the group…