PRESS ROOM
OPEC and IEA take opposing views on oil
Friday 18th November '22
The Organization of the Petroleum Exporting Countries (OPEC) has revised its oil demand forecast by 100,000 barrels for this year and next pointing to concerns about a global recession and weak Chinese demand. In contrast, the International Energy Agency (IEA) has raised its forecast for oil demand this year taking a more optimistic view on the global economy compared to OPEC. Brent oil prices have fluctuated between $92/barrel and $99/barrel during the first two weeks of November.