OPEC maintains 2021 crude oil demand forecast

Oil

In its June Monthly Oil Market Report OPEC has maintained its forecast that global crude oil demand will grow by 5.95M b/d (or 6.6%) y-o-y to average 96.58M b/d across 2021, leaving its estimate unchanged for the second month in a row. North America is set to be the largest contributor to demand growth in 2021, increasing by 1.77M b/d y-o-y to 24.33M b/d, however this still remains 1.32M b/d below 2019 levels.