OPEC Sees Oil Demand Rise To 95.9 Million Bpd In 2021

Global oil demand is set to rise by 5.9 million barrels per day (bpd) in 2021 from an estimated average demand of 90 million bpd in 2020, OPEC said on Thursday, leaving its 2021 demand growth forecast unchanged from last month but warning that the pandemic is still skewing risks to the downside. Developed economies will see oil demand rise by 2.6 million bpd this year, driven by North America, while emerging markets—led by China and India—will see oil demand increase by 3.3 million bpd, OPEC said in its Monthly Oil Market Report (MOMR).…