OPEC+ revised up its 2022 oil demand forecast ahead of a meeting of the oil producing group on Wednesday, amid U.S. pressure to raise output more quickly to support the global economy.
Two OPEC+ sources said the group's experts revised the 2022 oil demand growth forecast to 4.2 million barrels per day , up from the previous forecast of 3.28 million bpd.
The Organization of the Petroleum Exporting Countries and allies led by Russia, a group known as OPEC+, meet on Wednesday at 1500 GMT to set policy. The demand forecast revision came during the OPEC+ joint technical committee , which on Tuesday presented an updated report on the state of the oil market in 2021-2022.
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