Energy
Oil Supply Predicted to Increase Worldwide in 2021 – 22

In an industrial insight by Platts Analytics, the global oil output is expected to increase significantly increase in spite of the ongoing revisions in demand, due to the pandemic.
The forecast indicates that the global output will increase to about 3.2 million barrels per day, 2021 and to about 5.5 million barrels per day in 2022. This comes across as a result of two key factors namely, OPEC+ & Saudi Arabia’s decision to maintain output levels as had been outlined in April, resulting in growth in demand due to addition in supply over the upcoming months. The second factor that has bolstered the confidence in the oil supply is the resumption of talks between The US and Iran.
Easing/lifting of sanctions on Iran will lead to increased export of US oil and an increase in demand of and the supply of oil to Iran. Coupled with the increased impetus for vaccination programs worldwide, the lack of demand from nations like India and Latin American countries will be offset by increased demand in the US, Europe, and China.
-
Banking & Finance2 months ago
National Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines1 month ago
OER, July 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, July 25
-
Education2 months ago
Russia offers diverse tourism and education opportunities: Sofia Malyavina
-
Digital2 months ago
Russia’s Digital Frontier: An Inside Look with Alexey Goreslavsky of IRI
-
News4 weeks ago
OpenAI Strengthens ChatGPT’s Mental Health Safeguards Ahead of GPT-5 Launch
-
Business2 months ago
Need to rebuild trust and collaboration says Alexander Stuglev, Chairman & CEO of the Roscongress Foundation
-
Energy2 months ago
Oman Investment Authority launches the Sultanate’s First Energy Transition Fund