{"id":37266,"date":"2021-10-13T15:20:55","date_gmt":"2021-10-13T15:20:55","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=37266"},"modified":"2021-10-13T15:20:56","modified_gmt":"2021-10-13T15:20:56","slug":"opec-says-world-oil-demand-to-increase-by-5-8-mb-d","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/opec-says-world-oil-demand-to-increase-by-5-8-mb-d\/","title":{"rendered":"OPEC says world oil demand to increase by 5.8 mb\/d &nbsp;"},"content":{"rendered":"<p>The Organisation of Petroleum Exporting Countries (OPEC) says world oil demand will increase by 5.8 million barrels per day in 2021. &nbsp;<\/p>\n\n\n\n<p>OPEC made this known in its Oil Market Report for October 2021, on Wednesday in Lagos. &nbsp;<\/p>\n\n\n\n<p>The report said the world oil demand growth was revised down from 5.96 mb\/d in September\u2019s assessment. &nbsp;<\/p>\n\n\n\n<p>It said the downward revision was mainly driven by lower-than-expected actual data for the first three quarters of this year. &nbsp;<\/p>\n\n\n\n<p>\u201cThis is in spite healthy oil demand assumptions going into the final quarter of the year, which will be supported by seasonal uptick in petrochemical and heating fuel demand and the potential switch from natural gas to petroleum products due to high gas prices. &nbsp;<\/p>\n\n\n\n<p>\u201cBoth Organisation for Economic Cooperation and Development (OECD) and non-OECD figures are adjusted lower,\u2019\u2019 the report noted. &nbsp;<\/p>\n\n\n\n<p>According to the report, the downward revision in OECD regions focused in first half of 2021, while the non-OECD revision is concentrated in third quarter 2021. &nbsp;<\/p>\n\n\n\n<p>According to the report, the world is expected to consume 96.6 mb\/d of petroleum products this year. &nbsp;<\/p>\n\n\n\n<p>\u201cFor 2022, world oil demand growth is unchanged at 4.2 mb\/d. As a result, global demand next year is seen averaging 100.8 mb\/d. &nbsp;<\/p>\n\n\n\n<p>\u201cDemand is anticipated to be supported by healthy economic momentum in the main consuming countries and better management of the COVID-19 pandemic.\u2019\u2019 &nbsp;<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-37266\" data-postid=\"37266\" class=\"themify_builder_content themify_builder_content-37266 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>The Organisation of Petroleum Exporting Countries (OPEC) says world oil demand will increase by 5.8 million barrels per day in 2021. &nbsp; OPEC made this known in its Oil Market Report for October 2021, on Wednesday in Lagos. &nbsp; The report said the world oil demand growth was revised down from 5.96 mb\/d in September\u2019s [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":26198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[235,908],"tags":[144],"class_list":["post-37266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-resources","category-oil-gas","tag-gas","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>OPEC says world oil demand to increase by 5.8 mb\/d &nbsp; 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