Hess sees oil demand climbing to 100 million bpd by year end or early 2022: APPEC

Hess sees oil demand climbing to 100 million bpd by year end or early 2022: APPEC

Hess Corp expects oil demand will climb by 2 million barrels per day from current levels to 100 million bpd by the end of this year or early 2022, its president, Greg Hill, said on Monday.

"While there’s still uncertainty in all of this, we really see demand reaching that 100 million barrels (per day), which is pre-COVID, probably by the end of the year, maybe into the first quarter, and then growing to 101 or 102 (million bpd) next year," Hill said at the annual Platts APPEC 2021 conference.