(MENAFN- Kuwait News Agency (KUNA))
VIENNA, Jan 14 (KUNA) -- The demand for crude oil of the Organization of Petroleum Exporting Countries (OPEC) member states plummeted by 7.1 million barrels per day in 2020 compared with 2019 to stand at 22.2 million bpd, OPEC Secretariat General said on Thursday.
The organization, however, projected in its monthly report which was issued today, that the demand will bounce back in 2021 to reach 27.2 million bpd, an increase of about five million bpd compared with 2020.
The total global oil demand in 2020 dropped by 9.8 million bpd to 90 million bpd, it noted.
The report forecasted that the global demand is expected to rise by 5.9 million bpd this year to hit 95.9 million bpd.
Output of Non-OPEC countries hit 62.7 million bpd in 2020, registering a shrink of 2.5 million bpd, the report pointed out. (end)
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