The team believes that demand will be higher this year and will increase its estimates for last year.
The case is being updated…
OPEC estimates that according to OPEC’s April monthly report, OPEC countries’ average crude oil production in March was 25.042 million barrels per day, higher than the previous month’s 2.4488 million barrels per day.
-I think the most important thing is what OPEC+ said, and of course it actually did, because their level is about 8 million barrels lower than the level in April last year. Rystad Energy’s oil analyst Tore Guldbrandsøy said before submitting the report on Tuesday that the fact that they curb production and adjust production according to demand will be the most important thing in the future.
Last year’s estimate was revised upward, from the previous 90.39 million barrels per day to the global demand of 90.51 million barrels per day.
Based on this, the organization estimates that oil demand in 2020 will be 9.48 million barrels per day less than in 2019, compared with the previous estimate of 9.6 million barrels per day.
The organization also predicts that the global daily demand for oil this year will be 96.46 million barrels. This is an increase from the previous estimate of 94.27 million barrels per day. By 2021, compared with last year, it is estimated to increase by 5.95 million barrels per day, up from 5.89 million barrels per day in the previous report.