OPEC Expects Demand for Oil During the Last Quarter of the Year to Exceed 99 Million Barrels Per Day

OPEC expects oil demand during the last quarter of the year to exceed 99 million barrels per day

The Secretary-General of the Organization of the Petroleum Exporting Countries, Muhammad Barkindo, announced today, Tuesday, that global demand for oil in the last quarter of 2021 will exceed 99 million barrels per day, which returns the index to the level before the Corona pandemic.

Oil prices exceed $71 a barrel for the first time
International oil prices rose today, Tuesday, by between 2 and 3 percent, as the price of a barrel of Brent brand oil exceeded $ 71, for the first time since March 8, according to trading data.

These data also indicated that the price of July futures contracts for West Texas Intermediate oil rose by 3.29 percent, to reach the price of $68.5 per barrel.

Brent crude prices rose by 4.3 percent, and West Texas Intermediate crude by 5.6 percent during last May. Raw materials prices rose on the back of investor optimism about the recovery in demand amid easing quarantine restrictions in a number of countries, as well as expectations of the start of the travel season in the United States.