The Organization of the Oil Exporting Countries (OPEC) maintains its forecasts for the growth of global demand for energy carriers in its March report. According to the document, it is expected that demand for oil will increase by 5.79 million barrels per day in 2021, which is 70 thousand barrels per day less than previously predicted.
According to OPEC, the COVID-19 pandemic will continue to have a significant impact on the global economy and, consequently, on demand for oil. At the same time, the widespread vaccination and subsequent easing of quarantine measures may accelerate the recovery of the global economy and increase demand for energy carriers.
"However, the projected changes in oil demand still depend on how effectively measures to combat the spread of the virus are implemented and whether the economy can recover quickly after the pandemic," OPEC notes in its report.
