OPEC + technical committee expects slightly lower oil surplus in 2022

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A presentation seen by Reuters showed that the OPEC + Joint Technical Committee expects the oil market to witness a surplus of 1.4 million barrels per day next year, according to a basic scenario, slightly less than a previous forecast of 1.6 million barrels per day.

The committee expects the oil market to record a deficit of 1.1 million barrels per day this year, assuming demand growth is about six million barrels per day. It assumes demand growth of 4.2 million barrels per day next year.

Source: Reuters

The article, an OPEC + technical committee, expects a slightly lower oil surplus in 2022, was written in Al Borsa newspaper.