OPEC lowers global economic, oil demand forecasts

Vienna [Austria], May 12 (ANI/Xinhua): The Organization of the Petroleum Exporting Countries (OPEC) on Thursday revised its forecasts for this year's global economic growth and oil demand, citing COVID-19-induced restrictions and geopolitical tensions.

The oil alliance said in its monthly oil market report that the world economy is expected to grow by 3.5 per cent in 2022, compared to its forecast of 3.9 per cent a month