In addition, OPEC downwardly revised its forecast for 2021’s global oil demand by 770,000 barrels, from 97.63 million barrels per day to 96.86 mb/d.
Because of 2020’s aberrantly weak levels of oil demand, however, this lower figure of 96.86 mb/d for 2021 would still mark a 7.34% year-over-year increase: