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Oil Market: Global demand to grow by 6 mb/d in 2021 ― OPEC

Oil Market: Global demand to grow by 6 mb/d in 2021 ― OPEC

By Udeme Akpan Despite the prolonged Coronavirus pandemic, the Organisation of Petroleum Exporting Countries, OPEC, has predicted that the global demand will increase by six million barrels per day, mb/d in 2021. Speaking at the International Monetary and Financial Committee Meeting, April 8, 2021, via videoconference, monitored by Vanguard, Secretary-General, Organisation of Petroleum Exporting Countries,
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oil revenue, Oil firms

Half the battle in global oil market dominance

In the last one week it was the usual interplay of the forces of bulls and bears in the global oil market. Tensions in the Middle East continued to weigh on oil futures.  The United States benchmark, West Texas Intermediate, WTI traded down by US$1.70 (-2.85 percent) at US$57.88 last Tuesday after reports that the US Secretary of State Mike Pompeo announced that Iran was ready to negotiate on its missile program.

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