APPEC-Global oil demand seen reaching pre-pandemic levels by early 2022 By Reuters – Investing.com

APPEC-Global oil demand seen reaching pre-pandemic levels by early 2022 By Reuters – Investing.com

By Koustav Samanta, Roslan Khasawneh and Florence Tan

SINGAPORE (Reuters) - Global fuel demand is expected to reach pre-pandemic levels by early next year as the economy shrugs off pandemic woes, but spare refining capacity is likely to weigh on outlook, oil producers and traders said on Monday.

While a persistent rise in COVID-19 infections in several markets has hurt recovery in demand for some refined products such as jet fuel, consumption trends of petrol and diesel indicate higher growth, the industry leaders said.