The Organization of the Petroleum Exporting Countries on Tuesday left its forecasts for growth in oil demand this year and next unchanged. OPEC, in its monthly report, expects demand to grow by 2.5 million barrels a day in 2022 and by 2.2 million barrels a day in 2023, unchanged from its November forecast. OPEC said the forecast was “subject to many uncertainties, including global economic developments, COVID-19 containment measures mainly in China and ongoing geopolitical tensions.” OPEC sees growth in non-OPEC liquids production of 1.9 million barrels a day in 2022 and 1.5 million barrels a day in 2023, broadly unchanged from its November forecast.
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