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OPEC contradicting the IEA’s outlook

EnergiesNet

CARACAS 08 12 2022

The long time maestro on oil & gas matters writes today on his Nota Bene of The Schork Report: Who are you going to believe?
Seeking Alpha-“The IEA raised its forecast for 2022 global oil demand growth by 380 Mb/d to 2.1 MMb/d. noting that hight prices and limited supplies of natural gas in europe aftehr russia cut exports have pushed power plants and heavy industries to look gor oil as an alternative fuel source. At the same time, OPEC cut its forecast for demad growth in 2022 by Mb/d to 3.1 MMb/d – contradicting the IEA’s outlook – citing worries over COVID restrictions and geopolitical tensions.

Source: Stephen Schork – @schorkgroup

energiesnet.com 08 12 2022

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