OPEC Is Treading Lightly As Bearish News Mounts
Both OPEC and the International Energy Agency revised down their demand projections, suggesting that prices finally had some meaningful downward potential. But OPEC stands ready to change track. "Severe new lockdown measures amid surging Covid cases in China have led to a downward revision in our expectations for global oil demand in 2Q22 and for the year as a whole," the IEA wrote in its latest Oil Market Report this week.
Original Article Source Credits: Oil Price , https://oilprice.com/
Article Written By: Irina Slav
Original Article Posted on: Apr 17, 2022
Link to Original Article: https://oilprice.com/Energy/Energy-General/OPEC-Is-Treading-Lightly-As-Bearish-News-Mounts.html