Current location:politics >>
Global oil demand to record historic growth in 2021: OPEC
politics946People have gathered around
IntroductionPhoto taken on April 9, 2020 shows pump nozzles at a gas station in Brussels, Belgium. (Xinhua/Zhang ...
Photo taken on April 9, 2020 shows pump nozzles at a gas station in Brussels, Belgium. (Xinhua/Zhang Cheng)
While the oil market is still ravaged by the COVID-19 crisis, gradual stabilization is expected to begin in the second quarter of 2020, OPEC said in a monthly report.
VIENNA, July 14 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) predicts that global oil demand will register a historic high growth of seven million barrels per day (b/d) in 2021, although it will remain far below the pre-COVID-19 level.
While the oil market is still ravaged by the COVID-19 crisis, gradual stabilization is expected to begin in the second quarter of 2020, prompting cautious forecasts of renewed growth in 2021, according to OPEC's monthly report published on Tuesday.
The Organization for Economic Cooperation and Development (OECD) and the non-OECD oil producers will contribute around 3.5 million b/d to growth separately in 2021, it said.
Spot crude oil prices continued to rise in June for the second consecutive month, driven by a drop in global oil surplus, further improvements in oil market fundamentals, as well as expectations that the oil market would tighten further in the second quarter of this year, the report said.
OPEC forecasts a 4.7-percent global economic growth in 2021 following a contraction of 3.7 percent this year, assuming that COVID-19 is contained, especially in major economies.
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Planet Panorama news portal”。http://southafrica.sribizinfo.com/content-48a499889.html
Related articles
King Charles marks return to public duties wearing his famed pink T
politicsKing Charles today marked his return to public duties wearing his famed pink and blue T-rex tie.His ...
【politics】
Read moreChina Releases National Standards for Digital Textbooks in Primary, Middle Schools
politicsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【politics】
Read more(HKSAR 25) Hong Kong's Future Very Promising: Chief Executive Carrie Lam
politicsContact Us HomeNewsHighlightACWF NewsSocietyWom ...
【politics】
Read more
Popular articles
Latest articles
The 4 officers killed in North Carolina were tough but kind and loved their jobs, friends say
China Strengthens Efforts to Protect Asian Elephants
China Wins Artistic Swimming Team Technical at FINA Worlds
China Beefs up Free Blood Test to Help Abducted Children, Women Reunite with Families
Calling a female colleague a 'pretty woman' at work is sex discrimination, tribunal rules
Blueberries Enter Harvest Season in China's Guizhou
LINKS
- China had over 1.26 mln UAVs by end of 2023
- Phillies' Turnbull loses no
- Nick Viall, 43, and Natalie Joy, 25, get real about struggles getting intimate as new parents
- Taylor Swift's winning streak continues as she breaks record for most pre
- Miami Heat fans are SLAMMED by Kendrick Perkins for leaving 'too many' empty seats for crucial play
- Dickey Betts, Allman Brothers Band co
- China's amended criminal law strengthens punishment for bribers, graft in private firms
- Blinken reiterates U.S. opposition to Israeli invasion of Rafah
- Miami Heat fans are SLAMMED by Kendrick Perkins for leaving 'too many' empty seats for crucial play
- Teyana Taylor, 33, breaks her silence on those rumours she is romancing her co