oilprice.com Open in urlscan Pro
3.23.189.34  Public Scan

Form analysis
3 forms found in the DOM

POST https://oilprice.com/search/index

<form id="form-search" method="post" action="https://oilprice.com/search/index">
  <div id="search-close" class="open">
    <span></span>
    <span></span>
    <span></span>
    <span></span>
  </div>
  <fieldset>
    <label for="keyword">Type your search and press <b>Enter</b></label>
    <input type="text" id="keyword" name="keyword" value="" placeholder="Search...">
  </fieldset>
</form>

POST https://oilprice.com/Energy/Crude-Oil/OPEC-Cuts-Global-Oil-Demand-Growth-Forecast-Again.html#commentsform

<form action="https://oilprice.com/Energy/Crude-Oil/OPEC-Cuts-Global-Oil-Demand-Growth-Forecast-Again.html#commentsform" id="commentsform" method="post" accept-charset="utf-8">
  <input type="hidden" name="op_csrf_token" value="630ef4161f223c6852f2aa2686a810e3">
  <h3>Leave a comment</h3>
  <fieldset>
    <div class="row clear">
      <label for="commentform_firstname" id="label_commentform_firstname">First Name</label> <input type="text" name="commentform_firstname" value="" id="commentform_firstname" class="text" maxlength="30" placeholder="First Name">
    </div>
    <div class="row clear">
      <label for="commentform_lastname" id="label_commentform_lastname">Last Name</label> <input type="text" name="commentform_lastname" value="" id="commentform_lastname" class="text" maxlength="30" placeholder="Last Name">
    </div>
    <div class="row clear">
      <label for="commentform_email" id="label_commentform_email">Email</label> <input type="text" name="commentform_email" value="" id="commentform_email" class="text" placeholder="Email">
    </div>
    <div class="note show_on_email_exists email_exists_message">That email address is already in the database. Please <a href="https://oilprice.com/auth/login" style="text-decoration:underline;">login</a> to your account to post your comment, or
      enter a different email address to continue with your comment &amp; account creation.</div>
    <div class="row rowcaptcha clear hide_on_email_exists" style="display: none;">
      <label for="captcha" id="label_captcha">Captcha</label> <input type="text" name="captcha" value="" id="captcha" maxlength="80" size="30" class="text">
    </div>
    <div class="row clear hide_on_email_exists">
      <div id="maxlength_message"></div>
      <label for="commentform_comment" id="label_commentform_comment">Comment</label> <textarea name="commentform_comment" cols="40" rows="10" id="commentform_comment" maxlength="5000" placeholder="Comments"></textarea>
    </div>
    <div class="row rowcheckbox clear hide_on_email_exists">
      <label><input type="checkbox" name="account_creation" value="1" id="account_creation"> Please understand that, by submitting this form, you will be creating a free OilPrice.com account, and therefore agree to abide by our
        <a href="/terms_and_conditions" target="_blank">Terms of Use</a>. Your details will be stored in our database and shared with our third party mailing list provider. You will be sent an email containing a link that will ask you to generate a
        new password - please follow the link to complete your OilPrice account activation.</label>
    </div>
    <div class="row rowcheckbox clear hide_on_email_exists">
      <label><input type="checkbox" name="gdpr" value="1" id="gdpr"> We will save the information entered above in our website. Your comment will then await moderation from one of our team. If approved, your data will then be publically viewable on
        this article. Please confirm you understand and are happy with this and our <a href="/privacy-policy" target="_blank">privacy policy</a> by ticking this box. You can withdraw your consent, or ask us to give you a copy of the information we
        have stored, at any time by <a href="/contact" target="_blank">contacting us</a>.</label>
    </div>
    <div class="row clear hide_on_email_exists">
      <input type="submit" name="submit_button" value="Leave comment" class="submit" id="commentform_submit">
    </div>
    <div><input type="hidden" name="action" id="action" value="add"></div>
  </fieldset>
  <input type="hidden" name="op_csrf_token" id="csrf_token_field" value="630ef4161f223c6852f2aa2686a810e3">
</form>

POST https://oilprice.com/iframes/sidebar_signupform

<form method="post" id="sidebar_signupform_175" data-background-image="https://d1o9e4un86hhpc.cloudfront.net/images/iframes/sidebar_signupform/102/bg.gif" class="background_lozad" action="https://oilprice.com/iframes/sidebar_signupform">
  <div class="content">
    <img width="162" height="28" data-src="https://d1o9e4un86hhpc.cloudfront.net/a/img/iframes/sidebar/174/logo.png" class="logo lozad" alt="Oilprice.com">
    <img width="289" height="260" data-src="https://d1o9e4un86hhpc.cloudfront.net/a/img/iframes/sidebar/175/book.png" class="book lozad" alt="Investor Series">
    <div class="inner_content">
      <img data-src="https://d1o9e4un86hhpc.cloudfront.net/a/img/iframes/sidebar/175/text.png" class="text lozad" alt="Get $567 in Actionable Energy Market Intelligence For Free!">
    </div>
    <div class="form_info">
      <div class="input">
        <input type="hidden" id="utm_content" name="utm_content" value="1200">
        <input type="text" name="email" id="email" style="position:absolute;left:-10000px;" value="">
        <input type="text" name="email2" id="email2" value="" class="text" placeholder="Enter Email"><input type="submit" name="submit" id="submit" value="" class="button background_lozad"
          data-background-image="https://d1o9e4un86hhpc.cloudfront.net/a/img/iframes/sidebar/174/button.png">
        <br>
        <label for="signup-sidebar-gdpr" id="signup-sidebar-gdpr-label"><input type="checkbox" name="gdpr" value="1" required="" id="signup-sidebar-gdpr"> By signing up to our newsletter, you agree for your email address to be shared with our third
          party mail providers.</label>
      </div>
      <input type="hidden" name="landingpage_id" id="landingpage_id" value="">
    </div>
  </div>
</form>

Text Content

Type your search and press Enter

ADVERTISEMENT


 * Home
 * Oil Prices
 * Oil Futures
 * Rig Count
 * Energy
    * Energy-General
    * Oil Prices
    * Crude Oil
    * Heating Oil
    * Gas Prices
    * Natural Gas
    * Coal
   
    * Company News
    * Interviews
    * Geopolitics

 * Alternative Energy
    * Nuclear Power
    * Solar Energy
    * Hydroelectric
    * Renewable Energy
    * Geothermal Energy
    * Wind Power
    * Fuel Cells
    * Tidal Energy
    * Biofuels
   
    * Environment
    * Global Warming
    * Oil Spills

 * Video
 * Breaking News
 * Premium Articles
 * Community
 * My Account

 * Latest Discussions
 * Energy General
 * Oil Stocks & Prices
 * Other Energy Topics

Get Exclusive Intel
 * All Prices
 * OPEC Blends
 * Canadian Blends
 * U.S. Blends

WTI Crude •10 hours 82.17 +0.60 +0.74% Brent Crude •10 mins 85.62 -0.09 -0.11%
Murban Crude •15 mins 85.09 +0.76 +0.90% Natural Gas •13 mins 2.729 -0.012
-0.44% Gasoline •45 mins 2.493 -0.008 -0.31% Louisiana Light •22 days 81.51
-1.33 -1.61% Start Trading CFDs Over 2,200 Different Instruments Click Here for
150+ Global Oil Prices

Louisiana Light • 22 days 81.51 -1.33 -1.61% Bonny Light • 23 hours 85.47 -0.07
-0.08% Opec Basket • 4 days 83.06 +0.25 +0.30% Mars US • 230 days 76.83 -1.47
-1.88% Gasoline • 45 mins 2.493 -0.008 -0.31%

Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Marine •23 hours 84.00 +0.24 +0.29% Murban •23 hours 84.78 +0.26 +0.31% Iran
Heavy •23 hours 83.17 -0.03 -0.04% Basra Light •934 days 71.69 -3.60 -4.78%
Saharan Blend •23 hours 84.88 +0.14 +0.17% Bonny Light •23 hours 85.47 -0.07
-0.08% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+
Global Oil Prices

Bonny Light • 23 hours 85.47 -0.07 -0.08% Girassol • 23 hours 87.08 +0.05 +0.06%
Opec Basket • 4 days 83.06 +0.25 +0.30%

Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Canadian Crude Index •387 days 53.57 -1.23 -2.24% Western Canadian Select •22
hours 67.51 +0.99 +1.49% Canadian Condensate •22 hours 82.86 +0.99 +1.21%
Premium Synthetic •22 hours 81.11 +0.99 +1.24% Sweet Crude •22 hours 77.21 +0.99
+1.30% Peace Sour •22 hours 73.91 +0.99 +1.36% Start Trading CFDs Over 2,200
Different Instruments Click Here for 150+ Global Oil Prices

Peace Sour • 22 hours 73.91 +0.99 +1.36% Light Sour Blend • 22 hours 76.96 +0.99
+1.30% Syncrude Sweet Premium • 22 hours 83.91 +0.99 +1.19% Central Alberta • 22
hours 74.31 +0.99 +1.35%

Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

Louisiana Light •22 days 81.51 -1.33 -1.61% Domestic Swt. @ Cushing •4 days
76.81 +1.88 +2.51% Giddings •4 days 70.56 +1.88 +2.74% ANS West Coast •8 days
83.94 -0.70 -0.83% West Texas Sour •4 days 74.96 +1.88 +2.57% Eagle Ford •4 days
76.81 +1.88 +2.51% Start Trading CFDs Over 2,200 Different Instruments Click
Here for 150+ Global Oil Prices

Eagle Ford • 4 days 76.81 +1.88 +2.51% Oklahoma Sweet • 4 days 76.75 +1.75
+2.33% Kansas Common • 3 days 71.75 +1.25 +1.77% Buena Vista • 2 days 86.29
+0.00 +0.00%

Click Here for 150+ Global Oil Prices

Click Here for 150+ Global Oil Prices

 * 1D
 * 1M
 * 3M
 * 1Y

All Charts

 * Products
 * Discussion
 * Headlines

 * 8 hours Pemex's Olmeca Refinery to Begin Crude Oil Processing by Mid-Year
 * 10 hours Brent Closes in on $86 Further Buoyed by Jobs Data
 * 12 hours Carlyle Buyout Fund Scoops Up Mediterranean Gas Assets
 * 13 hours South Africa’s State Utility Set to Keep Highly-Polluting Coal
   Plants Open
 * 14 hours Volkswagen’s Secret Project: A Hydrogen Fuel Cell Vehicle
 * 15 hours Oil Firms Intensified Gas Flaring to the Highest Level in Five Years
   in 2023
 * 16 hours UK Supreme Court Hands Climate Activists Landmark Win in Oil
   Drilling Case
 * 17 hours EU to Ban Re-Export of Russian LNG
 * 19 hours Natural Gas Share of U.S. Power Generation Rises Amid Growing Demand
 * 20 hours Record July 4th Travel Could Boost Oil Demand and Prices
 * 21 hours China Is Now Consuming More Energy Per Capita Than Europe
 * 22 hours Global Emissions Climb to New Record High
 * 1 day Oil Loses Traction As Traders Focus on Geopolitical Situation
 * 1 day French Senate Wants ‘Golden Share’ In TotalEnergies for National
   Interest
 * 1 day China Powers Petrochemicals with Nuclear Steam in Historical First
 * 1 day Nigerian Oilfield Shut Down after Oil Spill
 * 2 days U.S. Supports Angola to Process Critical Minerals
 * 2 days China Looks to Curb Overcapacity in Its Lithium Battery Industry
 * 2 days New England Power Grid Issues ‘Abnormal Conditions’ Alert Amid
   Heatwave
 * 2 days Traders Boost Their Bullish Bets on European Natural Gas Prices
 * 2 days India’s New Coal Power Capacity Is Set to Soar in 2024
 * 2 days Iran Says U.S. Can No Longer Obstruct Its Oil Production and Exports
 * 2 days Fire Continues to Burn After Drone Attack on Russian Oil Depot
 * 2 days Senate Passes Faster Nuclear Capacity Expansion Bill
 * 2 days Oil Prices Hold Up Against Falling U.S. Crude Oil Inventories
 * 2 days YPFB Considers Leasing Pipelines to Facilitate Vaca Muerta Gas Exports
 * 2 days Citgo Corpus Christi Oil Refinery Restarts
 * 2 days Power Outage Could Reduce Norway’s Gas Supply to Europe Again
 * 2 days Coal India Studies Argentina Lithium Asset Development With U.S.
   Company
 * 3 days Russia’s Crude Shipments Rise Despite Vow to Fix Overproduction
 * 3 days Fisker Files for Bankruptcy as Troubles Mount for EV Makers
 * 3 days U.S. Judge Dismisses Exxon’s Lawsuit Against Activist Investor
 * 3 days Shell Boosts Its LNG Business by Buying Trader Pavilion Energy
 * 3 days Buffett’s Berkshire Hathaway Raises Occidental Stake to 29%
 * 3 days UK Oil Industry Needs Investment and Political Support to Halt Output
   Decline
 * 3 days Alberta’s Last Coal Plant Shuts Down as Natural Gas Takes Over
 * 3 days Court Returns Line 5 Pipeline Case to Michigan
 * 3 days Rystad Predicts Near Zero Oil Supply Growth in 2024
 * 3 days Oil Prices Jump 2% on Improving Demand Outlook
 * 3 days U.S. Gasoline Prices Up After 3-Week Decline

 * 3 minutes e-car sales collapse
 * 6 minutes America Is Exceptional in Its Political Divide
 * 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot
   more efficient
 * 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
 * 4 days The United States produced more crude oil than any nation, at any
   time.
 * 3 days How Far Have We Really Gotten With Alternative Energy
 * 1 day Bad news for e-cars keeps coming
 * 3 days China deletes leaked stats showing plunging birth rate for 2023
 * 4 days The European Union is exceptional in its political divide. Examples
   are...

 * Sell Buy
 * Sell Buy
 * Sell Buy
 * Sell Buy
 * Sell Buy


BREAKING NEWS:

Pemex's Olmeca Refinery to Begin Crude Oil Processing by Mid-Year

Find us on:


BANK SEES U.S. SHALE GROWING FOR ANOTHER 4 YEARS

U.S. shale oil production has…


U.S. CRUDE PRODUCTION GROWTH CHALLENGES OPEC+ CONTROL OVER PRICES

OPEC+ extends oil production cuts…


ENERGY INVESTORS ARE RAVING ABOUT THIS NEW RESOURCE

"It's most important 8 minute read of my week…"


 1. Home
 2. Energy
 3. Crude Oil

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing
for news outlets such as iNVEZZ and SeeNews. 

More Info


SHARE

 * Facebook
 * Twitter
 * Linkedin
 * Reddit


PREMIUM CONTENT

 * OPEC Demand Forecast Boosts Bullish Sentiment in Oil Markets
 * China's Oil Demand Threatened by LNG Trucks
 * Oil and Gas M&A Momentum Continues to Build
 * Is It Time to Get Back Into Energy Stocks?


OPEC CUTS GLOBAL OIL DEMAND GROWTH FORECAST, AGAIN

By Tsvetana Paraskova - May 12, 2022, 10:00 AM CDT
 * OPEC cuts world economic growth estimate to 3.5% from 3.9% last month.
 * OPEC now sees growth of 3.36 million bpd in 2022 compared to 2021.
 * OPEC: Demand in 2022 is expected to be impacted by ongoing geopolitical
   developments in Eastern Europe, as well as COVID-19 pandemic restrictions.



Slower global economic growth, China’s fight against COVID, and the Russian
invasion of Ukraine prompted OPEC to slash for a second month running its global
oil demand growth estimate for 2022.

In its Monthly Oil Market Report (MOMR) out on Thursday, OPEC revised
down—again—its forecast for global economic growth and said oil demand would
grow by 310,000 barrels per day (bpd) less than the growth anticipated in the
April report.

Back in April, OPEC slashed its oil demand growth estimate for 2022 by 480,000
bpd on the back of lower expected global economic growth with the Russian war in
Ukraine and the return of COVID lockdowns in China.

In this month’s report, the cartel cut its world economic growth estimate to
3.5% from 3.9%, having revised down in April its global growth forecast to 3.9%
from 4.2%.

ADVERTISEMENT



Commenting on the global economy, OPEC said that “The upside potential to the
current forecast is quite limited. However, it may come from a solution to the
Russia and Ukraine situation, fiscal stimulus, where possible, and a fading
pandemic, in combination with a strong rise in service sector activity.”

For global oil demand, OPEC now sees growth of 3.36 million bpd in 2022 compared
to 2021, down by 310,000 bpd from last month’s estimate. Yet, overall, global
oil demand is still set to average above 100 million bpd this year, at 100.29
million bpd, per OPEC’s latest forecast. The second-quarter demand estimate was
revised down by a massive 670,000 bpd to 98.44 million bpd, but average global
oil demand is set to exceed the 100 million bpd mark in the third and fourth
quarters, with Q4 demand seen at 102.64 million bpd.

“Demand in 2022 is expected to be impacted by ongoing geopolitical developments
in Eastern Europe, as well as COVID-19 pandemic restrictions,” OPEC said.

“Uncertainties to the forecast remain large, especially given recent
geopolitical developments in Eastern Europe. Moreover, high inflation levels,
coupled with labour shortages and tighter monetary policies by major central
banks may also impact the cost of oil production and investment levels in the
upstream beyond the short term,” the cartel noted.

Also on Thursday, the International Energy Agency (IEA) published its monthly
report, in which it left its demand forecasts unchanged from last month,
expecting 2022 oil demand to rise by 1.8 million bpd on average to 99.4 million
bpd.

Despite the loss of supply from Russia, “steadily rising output elsewhere,
coupled with slower demand growth, especially in China, is expected to fend off
an acute supply deficit in the near term,” the IEA said in its report.

ADVERTISEMENT





By Tsvetana Paraskova for Oilprice.com



More Top Reads from Oilprice.com:

 * Kuwait Follows Saudis In Slashing Oil Prices For Asia
 * China’s COVID Lockdowns Force Aramco To Slash Oil Export Prices
 * Saudi Energy Minister: Insufficient Investment To Blame For High Fuel Prices


DOWNLOAD THE FREE OILPRICE APP TODAY

Back to homepage



ADVERTISEMENT





AROUND THE WEB



GERMAN COMPANY FIRES MANAGER AFTER MAKING THOUSANDS RICH BY MISTAKE

Finance Times

DO THIS EVERY NIGHT TO GET RID OF TOE FUNGUS

Fungus Elixir

UROLOGIST: MANY MEN WITH AN ENLARGED PROSTATE DON'T KNOW ABOUT THIS SIMPLE TRICK

Titan Flow

JOINT PAIN? THIS 'OIL TRICK' WORKS LIKE CRAZY

Joint Genesis

FIGHTING DIABETES? THIS DISCOVERY LEAVES DOCTORS SPEECHLESS!

Sugar Defender

OPTOMETRISTS SPEECHLESS: DO THIS IMMEDIATELY TO RESTORE VISION

Vision 20

THE ULTIMATE GUIDE TO THE 50 MOST BREATHTAKING BEACHES ON EARTH

bakeinto

DENTIST: ADD THIS TO YOUR TOOTHPASTE TO HELP REGROW YOUR GUMS

Zoracel

RIHANNA NET WORTH 2022

Worth2022




FACEBOOK Twitter LINKEDIN REDDIT PRINT

Previous Post

Recession Fears Loom Large Over Bullish Oil Market

Next Post

OPEC+ Misses Production Target By Whopping 2.7 Million Bpd


TSVETANA PARASKOVA

Tsvetana is a writer for Oilprice.com with over a decade of experience writing
for news outlets such as iNVEZZ and SeeNews. 

More Info



RELATED POSTS


HOUTHIS RELEASE DRAMATIC VIDEO OF BULK CARRIER BEING BLOWN APART IN RED SEA




OIL MOVES HIGHER AFTER EIA CONFIRMS CRUDE DRAW




AFRICA'S LATEST EXPLORATION HOTSPOT SET TO TRIPLE OIL PRODUCTION

Leave a comment
 * 
   Mamdouh Salameh on May 12 2022 said:
   OPEC+ may have rushed to cut its forecast of global oil demand growth for
   2022 based on concerns of China’s lockdown and also geopolitical and economic
   concerns.
   
   But oil prices are telling a more optimistic story. Despite the disappearance
   of the Ukraine conflict premium estimated at $25-$30 a barrel, Brent crude at
   $108 a barrel today is 14%-15% higher than it was in December 2021. This
   could reflect a robust global oil demand and a market still in its most
   bullish state since 2014. The proof is that oil demand this year will exceed
   100 million barrels a day (mbd) in the third and fourth quarters of this year
   and hit 102.64 mbd by the fourth quarter which is higher than both 2019 and
   2021.
   
   And despite the lockdown in some Chinese regions, China tends always to
   surprise the world exactly as it did in 2020 at the height of the pandemic
   when its oil imports were 10% higher than in 2019. In fact Petro-china, the
   biggest refiner in China said recently that fuel consumption in China is
   rising fast meaning that demand for crude oil is also rising.
   
   However, global oil demand could have been even higher this year if not for
   measures being taken by the Central banks in the United States and the EU to
   tackle rising inflation.
   
   Dr Mamdouh G Salameh
   International Oil Economist
   Visiting Professor of Energy Economics at ESCP Europe Business School, London
   


LEAVE A COMMENT

First Name
Last Name
Email
That email address is already in the database. Please login to your account to
post your comment, or enter a different email address to continue with your
comment & account creation.
Captcha

Comment
Please understand that, by submitting this form, you will be creating a free
OilPrice.com account, and therefore agree to abide by our Terms of Use. Your
details will be stored in our database and shared with our third party mailing
list provider. You will be sent an email containing a link that will ask you to
generate a new password - please follow the link to complete your OilPrice
account activation.
We will save the information entered above in our website. Your comment will
then await moderation from one of our team. If approved, your data will then be
publically viewable on this article. Please confirm you understand and are happy
with this and our privacy policy by ticking this box. You can withdraw your
consent, or ask us to give you a copy of the information we have stored, at any
time by contacting us.






ADVERTISEMENT




ADVERTISEMENT





MOST POPULAR



OPEC’s Trillion-Dollar Bet Against U.S. Shale




Huge Rare Earths Discovery is Gamechanger in Americas Trade War with China



80 More Years of Oil: The Big Attraction of Carbon Capture



China's "No Limits" Friendship with Russia is Beginning to Crumble



Oil Prices Climb as Sentiment Continues to Improve


By signing up to our newsletter, you agree for your email address to be shared
with our third party mail providers.


ADVERTISEMENT




ADVERTISEMENT





TRENDING DISCUSSIONS

 * GREEN NEW DEAL = BLIZZARD OF LIES
   
   Posted by JoMack
   
   As Biden, the President of Climate Change, and Kerry, our fabulous Climate
   Czar, who just gave...

 * E-CAR SALES COLLAPSE
   
   Posted by markslawson
   
   The story below, which appeared in...

 * AMERICA IS EXCEPTIONAL IN ITS POLITICAL DIVIDE
   
   Posted by Rob Plant
   
   As a UK citizen knowing my own country has rarely if ever been as polarized
   as it is today larg...

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00





 * More About Us
 * About Us
 * Site News
 * Sitemap
 * Advertise with us
   

Privacy Manager
 * Site info
 * Terms & Conditions
 * Disclaimer
 * Privacy Policy
 * Contact Us

© OilPrice.com

The materials provided on this Web site are for informational and educational
purposes only and are not intended to provide tax, legal, or investment advice.

Nothing contained on the Web site shall be considered a recommendation,
solicitation, or offer to buy or sell a security to any person in any
jurisdiction.

Merchant of Record: A Media Solutions trading as Oilprice.com