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OPEC increases global oil demand forecasts
Energy
- 13 November, 2017
- 14:04
Baku. 13 November. REPORT.AZ/ OPEC has increased its initial global oil demand forecast up to 74,000 bpd by 2017, and 130,000 bpd by 2018.
Report informs referring to the OPEC's November report, global oil demand in 2017 will increase by 1.53 mln. bpd and make 96.94 mln. bpd. The reason for the increase is higher demand from China than expected.
OPEC estimated that in 2018 global oil demand will increase by 1,51 mln. bpd and make 98.45 mln. bpd.
According to the report, non-OPEC countries will increase oil production by 870,000 barrels/day in 2018. Notably, in the previous report this figure was 940,000 barrels / day.
Notably, tomorrow the International Energy Agency will disclose World Energy Outlook.
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