Oil Markets: Tilt to Tightness in 2022?

Copyright © 2021 Energy Intelligence Group

Our newly released 2022 forecast sees global oil demand exceeding pre-Covid-19 levels by the end of next year. Modest non-Opec growth will leave room for Opec-plus to continue unwinding cuts, but with a potential Iranian return posing risks. Balances next year will give clearer pointers on whether oil markets face significant supply tightness this decade, as climate pressures squeeze non-Opec spending.

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