OPEC+ Ups 2022 Oil Demand Growth Forecast

The OPEC+ group of oil producers has made an upward revision to its 2022 oil demand forecast ahead of a meeting on Wednesday as the group faces pressure from the United States to raise output more quicker to help to support the global economy.

Two OPEC+ sources said the group's experts have revised its 2022 oil demand growth forecast to 4.2 million barrels per day (bpd), up from the previous forecast of 3.28 million bpd.