OPEC sees gradual recovery in oil demand as it closes | Business and Economic Affairs
OPEC’s most recent oil demand forecasts are in line with his and his partners’ proposals for oil and cold prices that are very close for two and a half years.
OPEC predicted that in the near future they will need to recover next year and next year, as the group approaches an agreement to revive the survivors.
Demand for imports from the Organization of Petroleum Exporting Countries will continue to rise, surpassing current outpouring and more than the virus in the second half of 2022.
“As we look forward to the year 2022, the risks and uncertainties are increasingly apparent and need to be carefully monitored to ensure the recovery of the Covid-19 epidemic,” OPEC said in its monthly report, which included early next year’s indications.
These integrated ideas are being implemented by OPEC’s plans and its partners – which need to be approved – to quietly repatriate much of what they have offline in 400,000 bags per month. Before a road map can be approved, the group must deal with a dispute between the United Arab Emirates and Saudi Arabia.
The two countries have advanced to address the dispute over what the UAE calls limited borders. If they can deal with a painful problem, the relationship can continue and resume idle barrels.
Global oil prices are selling very close at 2 1/2 years, about $ 74 barrels in London, while oil is also used to return to the US and China and boost residues. Yet the speculation remains unsettled amidst threats from several species of coronavirus, fearing that OPEC’s internal conflicts could undermine its cohesiveness.
The review, which was published Thursday by OPEC’s Vienna research office confirms why the company wants to move more carefully – and why Abu Dhabi’s insistence on supplementing previously released articles has been criticized.
OPEC predicts that global oil prices will rise by 3.3 million barrels per day by 2022 – about 3.4% – by more than 100 million barrels per day for the first three quarters since the coronavirus was discovered. But before that, alcohol abuse will begin again in the first quarter, returning to 97 million a day.
Most of the refunds are satisfied with the revival on donations from OPEC competitors. OPEC non-production will increase next year by 2.1 million barrels per day, or 3.3%, and about one-third of the growth coming from its previous competitors in the cartel, US
Unsolicited petitions from the agency will exceed 30 million barrels per day in the second half of 2022, more than the 26 million that were sprayed in June. This should allow OPEC and its partners, who have already recovered about 40% of what was cut during the epidemic, to make it work in a similar way.
“Further steps to encourage and significantly save countries in developing countries are expected to deliver interest rates in the second half of 2021, which will continue into 2022,” the agency said.
However, in the first half of 2022, OPEC’s non-profit calls will return to 26.4 million barrels per day – below the level they are supposed to pump this month as soon as it is repaired. The interim tax plan for feeding-backing more barrels in the coming months represents a huge increase in the balance.
This soft patch could help explain why Riyadh is pushing to ensure the OPEC + ban on embezzlement continues beyond the end of April.
