CAIRO - 12 February 2021: The Organization of the Petroleum Exporting Countries' (OPEC) latest monthly report showed that the 2021 global oil demand growth forecast got revised down to 5.79 million barrels per day (bpd) from 5.9 million bpd in the previous report. "Global economy is showing signs of a healthy recovery in 2021 but oil demand is currently lagging." "2021 overall non-OPEC supply growth forecast lowered to 670,000 bpd (previous forecast 850,000 bpd)." "OPEC oil output rose 180,000 bpd in January to 25.50 million bpd." "2021 forecast for global demand for OPEC crude hiked to 27.5 million bpd (previous forecast 27.2 million bpd)."

Source: Egypt Today February 12, 2021 12:45 UTC