OPEC has cut its world oil demand forecast through the end of 2021, with the cartel blaming inflation for dampening the global economic recovery and sapping demand for crude. “A slowdown in the pace of recovery in the fourth quarter of 2021 is now assumed due to elevated energy prices,” OPEC wrote in its closely-watched monthly forecast, released on Nov. 11. The consortium said it expects oil demand to average 99.49 million barrels per day (bpd) in the fourth quarter of 2021, down 330,000 bpd from the prior month’s forecast. “While the global economic recovery has continued, most recently, the combination of rising COVID-19 infections, supply chain issues, and growing inflation has led to a slight slowdown that is forecast to materialize in” the fourth quarter of 2021, OPEC said. The cartel also lowered its world oil demand for all of 2021 by around 200,000 bpd. Crude oil prices were little …