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1. www.opec.org › opec_web › enMonthly Oil Market Report 2021 - OPEC

   www.opec.org › opec_web › en

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   The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance.

2. www.reuters.com › business › energyOPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com › business › energy

   2 days ago · OPEC+ may stick with deep oil cuts for longer due to weak demand. ... (OPEC) outside its headquarters in Vienna, Austria, May 28, 2024. ... The group has cut output by 5.86 million barrels per day ...

3. thecapitalist.com › oil-demand-forecastOPEC Cuts 2021 World Oil Demand Forecast Due To High Prices

   thecapitalist.com › oil-demand-forecast

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   Nov 12, 2021 · On Thursday, the Organization of Petroleum Exporting Countries (OPEC) announced that they cut its world oil demand forecast for the last quarter of 2021. The reason? High energy prices are limiting the efforts of countries to recover from the COVID pandemic.

4. www.worldoil.com › news › 2021/3/31OPEC cuts global oil demand estimates ahead of production ...

   www.worldoil.com › news › 2021/3/31

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   Mar 31, 2021 · The OPEC+ Joint Technical Committee now estimates that global oil demand will expand by 5.6 million barrels a day this year, down from 5.9 million previously, according to delegates and...

5. www.opec.org › opec_web › enOPEC : OPEC's World Oil Outlook 2021 launched in Vienna

   www.opec.org › opec_web › en

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   Sep 28, 2021 · Global oil demand is forecast to reach 108.2 mb/d by 2045, from a low of 90.6 mb/d witnessed in 2020. The non-OECD drives oil demand with growth of 25.5 mb/d by 2045 (compared to 2020), whereas the OECD region is expected to contract by 7.9 mb/d.

6. www.reuters.com › article › businessOPEC again cuts 2021 oil demand view, sees H2 pickup

   www.reuters.com › article › business

   Feb 11, 2021 · Demand will rise by 5.79 million barrels per day (bpd) this year to 96.05 million bpd, the Organization of the Petroleum Exporting Countries said in a monthly report, trimming its growth...

7. People also ask

   How has OPEC+ impacted oil prices?

   • This has left OPEC+ maintaining output cuts for longer than it had thought. The group has cut output by 5.86 million barrels per day, or about 5.7% of global demand, in a series of steps agreed since 2022 to support the market. Despite OPEC+'s cuts and delays to output hikes, oil prices have mostly stayed in the $70-$80 per barrel range this year.

   OPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com/business/energy/opec-may-stick-with-deep-oil-cuts-longer-due-weak-demand-2024-11-20/

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   What is the OPEC Monthly oil market report?

   • The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance. In an effort to continuously enhance the service provided to our readers, we are pleased to announce that the analysis provided in the OPEC Monthly Oil Market Report is now more accessible than ever.

   Monthly Oil Market Report 2021 - OPEC

   www.opec.org/opec_web/en/publications/6356.htm

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   Will OPEC+ be able to increase oil output in December?

   • Our Standards: The Thomson Reuters Trust Principles. OPEC+ will have little room to manoeuvre on oil policy when it meets in December: it would be risky to increase output because of weak demand, and difficult to deepen supply cuts because some members want to pump more, sources and analysts said.

   OPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com/business/energy/opec-may-stick-with-deep-oil-cuts-longer-due-weak-demand-2024-11-20/

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   What is the 2021 OPEC World Oil Outlook?

   • The 2021 OPEC World Oil Outlook (WOO) was launched today in Vienna, Austria. The 15th edition of the WOO presents an in-depth review of the OPEC Secretariat’s ongoing analysis of the impacts of the COVID-19 pandemic, and contains medium- and long-term projections for the global oil and energy industry.

   OPEC's World Oil Outlook 2021 launched in Vienna

   www.opec.org/opec_web/en/press_room/6619.htm

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   When was the last time OPEC raised oil output?

   • The last time OPEC did this was in 2014-2015, when it raised output to squeeze U.S. shale firms. OPEC+'s oil output is equal to 48% of world supply, the lowest since it was formed in 2016 with a market share of over 55%, according to Reuters calculations based on International Energy Agency figures.

   OPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com/business/energy/opec-may-stick-with-deep-oil-cuts-longer-due-weak-demand-2024-11-20/

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   How much oil does OPEC+ produce?

   • OPEC+'s oil output is equal to 48% of world supply, the lowest since it was formed in 2016 with a market share of over 55%, according to Reuters calculations based on International Energy Agency figures. The U.S. has become the world's largest oil producer, pumping more than 20 million bpd or a fifth of global production.

   OPEC+ may stick with deep oil cuts for longer due to weak demand

   www.reuters.com/business/energy/opec-may-stick-with-deep-oil-cuts-longer-due-weak-demand-2024-11-20/

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8. www.spglobal.com › commodityinsights › enOPEC cuts 2021 oil demand outlook; still sees big market ...

   www.spglobal.com › commodityinsights › en

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   Nov 11, 2021 · As a result, OPEC now expects global oil demand to average 96.44 million b/d in 2021, for year-on-year growth of 5.65 million b/d. For 2022, demand will rise by 4.15 million b/d, unchanged from last month's forecast, to hit 100.59 million b/d.