OPEC: Global oil demand to increase significantly in late 2021

The global oil demand will exceed 99 million barrels per day in the fourth quarter of 2021, bouncing back to the pre-pandemic level, Report informs, citing OPEC Secretary-General Mohammad Barkindo.

According to Barkindo, the market outlook for the end of this year looks particularly promising. OPEC expects the demand to exceed 99 million barrels per day in the fourth quarter, bringing the figures back to the pre-pandemic levels, he said.

In particular, this year, the demand is expected to grow by 6.8%, or 3.3 million barrels per day in non-OECD (Organisation for Economic Co-operation and Development) countries, and by almost 6.4%, or 2.7 million barrels per day in OECD countries.