OPEC Expects Solid Global Oil Demand This Summer

Global oil demand in the summer is expected to be strong as consumption of transportation fuels is set to rise across the board and across regions with summer and holiday travel picking up, OPEC said on Thursday. The group sees a “robust oil demand outlook for the summer months.” Strong oil demand in the second and third quarters of this year could further tighten the market, especially if the OPEC+ group doesn’t begin to ease the current production cuts in July. In its closely-watched Monthly Oil Market Report (MOMR)…