Global oil demand back above 100 million barrels a day, says BP

Company posts $3.3 billion third-quarter profit, beating estimates as oil prices surge

As world leaders discuss the fight against climate change, global oil demand has bounced back above the key level of 100 million barrels a day last seen before the Covid-19 pandemic, according to BP.

Fossil fuel consumption is recovering despite growing urgency in the effort to curb emissions of greenhouse gases. The resurgence is pushing prices to multiyear highs and threatening the world’s economic recovery due to significant constraints in energy supplies. 

That’s been a boon for BP and its peers, which have just reported big jumps in profit, but has prompted calls from major consumers for the OPEC+ cartel to open