Commodities and Futures News
OPEC+ sees bigger 2022 surplus amid slower demand growth – report
2022.05.04 11:38
FILE PHOTO: The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen at OPEC’s headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger
LONDON (Reuters) – OPEC+ sees a surplus of 1.9 million barrels per day in 2022, 600,000 bpd higher from a previous forecast, amid expectations of slower demand growth this year, a report seen by Reuters showed on Wednesday.
The report, prepared ahead of a meeting of the OPEC+ Joint Technical Committee meeting scheduled for Wednesday, also sees OECD oil stocks slightly exceeding the 2015-2019 average in the fourth quarter.
