Global oil demand is expected to reach pre-pandemic levels by early next year as the economy recovers, although spare refining capacity could weigh on the outlook, producers and traders said at an industry conference on Monday. The outlook is in line with a bullish forecast from the Organization of the Petroleum Exporting Countries (OPEC), but ahead of estimates from the International Energy Agency (IEA). Global demand is seen rising to 100 million barrels per day (bpd) by the end-2021 or in the first quarter of 2022, Hess Corp. President Greg Hill said. The world consumed 99.7 million bpd of oil in 2019, according to the IEA, before the COVID-19 pandemic hammered economic activities and fuel demand. While a persistent rise in COVID-19 cases across markets has hurt recovery in demand for some refined products such as jet fuel, consumption trends of petrol and diesel indicate growth, industry leaders noted at …