Reuters Sep 1 - OPEC + revises up 2022 demand...Market was expecting a surplus and lower demand...now OPEC+ is saying demand increases adding potential for higher output? Interesting change in tone...
On the flip side so much for those calling peak demand in 2019? The question is if growth is slower how will OPEC + respond...for now we might be range bound $60-70....which regardless is still amazing for BTE....fly under the radar...
"On Tuesday, OPEC+ experts revised the 2022 oil demand growth forecast to 4.2 million bpd, up from a previous 3.28 million bpd, potentially building the case for higher output in future."
Reference:
https://cyprus-mail.com/2021/09/01/opec-sticking-to-policy-despite-higher-oil-demand/