OPEC: Oil demand in global market to reach record high in 2017

Baku. 10 August. REPORT.AZ/ Organization of Petroleum Exporting Countries (OPEC) forecasts in 2017 daily demand for oil will increase by 0.09 mln barrels / day and to reach a record high - 95.41 mln barrels / day.

Report informs citing the RIA Novosti, it is said in a report of organization released in August.

OPEC also forecasts in 2016 daily demand for oil will increase by 0.09 mln barrels / day and to reach - 94,26 mln barrels / day.

Liquid hydrocarbons on world market will decrease by 1,06 mln barrels / day and 0,3 mln barrels / day annually and as an average indicator this figure was 94,6 mln barrels / day.

Oil supply from non OPEC countries decreased by 0,79 mln barrels / day and made 56,13 mln barrels / day.

Demand for OPEC oil in 2017 will raise by 1,2 mln barrels / day and to reach 33 mln barrels / day. In 2016 this figure will go up by 1,9 mln and reach 31,9 mln barrels / day.

The world's oil production in July compared to June increased by 240 thousand barrels / day, and made 95.14 mln barrels / day. The figure rose by 0,2 mln barrels / day in non OPEC countries and 46 mln barrels / day in OPEC countries.

According to the organization exploration and production costs in huge oil and gas companies will decrease by 20% in 2016 and make 135 bln USD.