PTT anticipates a continuous global economic and oil demand with market challenges in 2022
In Q4/21, the global oil market encountered a surge in energy prices. In particular, the ICE Brent spot price averaged at $83.7 per barrel in October and $80.8 per barrel in November, up from $73.2 per barrel in Q3/21. The increase in oil price had been caused by the easing of COVID-19 pandemic control policies around the world as a result of accelerating vaccine rollout, which leads to continuous economic recovery.
According to the Energy Information Administration (EIA) report in December 2021, global oil demand in 2021 was forecasted to increase by 5.10 million barrels per day from the previous year to 96.91 million barrels per day and…
