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OPEC JTC 2022 Oil Surplus at 0.8mbpd

OIL

OPEC JTC revises oil surplus forecast down to 0.8mbpd in 2022

  • Revised down 0.2mbpd from previous forecast
  • They forecast that the oil supply surplus will be 0.5mbpd in 2023
  • Worst case scenario oil surplus up to 1.3mbpd in 2022 and 2023.
  • Best case scenario has 0.5mbpd surplus in 2022 and 0.4mbpd in 2023

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