OPEC cuts oil demand forecasts as economic growth slows
Risks facing the world economy include ongoing geopolitical tensions and supply chain issues, the continued Covid-19 pandemic, rising inflation, high sovereign debt levels in many regions, and expected monetary tightening by central banks in the US, Britain, Japan and the Euro zone.
The revised oil demand forecast is due to "expectations of a resurgence of Covid-19 restrictions and ongoing geopolitical uncertainties" in the second half of this year. Pic: Reuters