Oil demand will grow sharply in the next few years as economies recover from the Covid-19 pandemic, the Organization of the Petroleum Exporting Countries (OPEC) said this week in its 2021 World Oil Outlook.
According to the report, oil use will rise by 1.7 million barrels per day (bpd) to 101.6 million bpd in 2023, along with the robust growth already predicted for 2021 and 2022.“Energy and oil demand have picked up significantly in 2021 after the massive drop in 2020,” OPEC Secretary General Mohammad Barkindo said, adding that “Continued expansion is forecast for the longer term.”
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