OPEC Continues To See Strong Oil Demand Recovery In 2021

OPEC is optimistic that accelerating vaccination programs and rising fuel demand will raise global oil demand by 5.95 million barrel per day (bpd) this year despite the current COVID crisis in India, the cartel said on Tuesday, keeping its demand outlook unchanged from last month. World oil demand is set to average 96.5 million bpd in 2021, OPEC said in its closely-watched Monthly Oil Market Report (MOMR) today. This would be nearly 6 million bpd higher than the demand last year, with the acceleration expected in the second half of 2021. OPEC revised…