Oil demand is set to rise above pre-pandemic levels by the end of 2022, the International Energy Agency (IEA) said on Friday. 

"In 2022, there is scope for the 24-member OPEC+ group, led by Saudi Arabia and Russia, to ramp up crude supply by 1.4 million barrels per day (bpd) above its July 2021-March 2022 target," said the IEA's monthly oil report.