Demand is going up.Oil demand will increase by 2.64 million barrels per day (bpd) or 2.7% in 2022, the Organization of the Petroleum Exporting Countries (OPEC) said in a monthly report, down 460,000 bpd from the previous forecast.
Oil demand will increase. It is the increase in future demand that is going down. That means oil producers will sell more oil and the world will use more oil....not less. They just won't use as much the prediction that is based on a prediction.
LOL
We'll see.
GLTA Longs