the organization of the petroleum exporting countries on thursday cut its forecast for oildemand growth in 2022 citing expectations for a resurgence of covid19 restrictions and continued geopolitical ructions in its monthly report opec cut its estimate of 2022 demand growth to 31 million barrels a day from a previous forecast of 34 million barrels a day or mbd opec described the outlook as still healthy with total oil demand expected to average around 100 mbd in 2022 opec raised its estimate of oil demand in the first half of 2022 but that was more than offset by a cut to the secondhalf forecast opec left its forecast for world oildemand growth in 2023 unchanged at 27 mbd with total oil demand averaging 1027 mbd opec’s assessment stands in contrast to the monthly report from the parisbased international energy agency earlier thursday which boosted its demand forecast the iea said europe’s summer heat waves and naturalgas shortages in the region as russia curtailed shipments were leading some energy consumers to switch from gas to oil iea raised its estimate for demand growth by 380000 barrels a day this year to 21 million barrels a day the agency also raised its forecasts for total oil demand in 2022 and 2023 by 500000 barrels a day apiece to 997 million barrels a day and 1018 million barrels a day respectively oil futures were lifted thursday following the iea report and remained higher after the opec update west texas intermediate crude for september deliver cl1  the us benchmark was up 103 or 11 at 9296 a barrel on the new york mercantile exchange october brent crude brn00  the global benchmark rose 94 cents or 1 to 9834 a barrel on ice futures europe on the supply front the report forecast nonopec liquids supply growth of 21 mbd to average 658 mbd broadly unchanged from july with an upward revision for russia offset by cuts to the us norway and kazakhstan in 2023 the forecast for growth in nonopec liquids production remains unchanged at 17 mbd to average 675 mbd opec said the main drivers for growth in 2023 are expected to be the us norway brazil canada and guyana “uncertainty regarding the operational and financial aspects of us production as well as the geopolitical situation in eastern europe remains high” opec said the report said opec13 crude oil production in july increased by 162000 barrels a day in july to average 2884 mbd according to available secondary sources