The organization of countries-exporters of oil (OPEC) raised the forecast of growth in global oil demand in 2016 to 30 thousand barrels per day, from the August report of the cartel.
In accordance with the updated forecast, oil demand in 2016 will increase by 1.22 million barrels per day compared to 2015 year — to 94,26 million barrels, reportstass.
In addition, the OPEC forecasts for oil demand in 2017 improved to 90 thousand barrels per day to 95,41 million barrels (an increase of 1.15 million barrels).
The estimate of production growth for 2016 countries not members of OPEC, increased compared with the June report of 90 thousand barrels per day. Thus, OPEC expect a smaller decline in oil production — 790 thousand barrels per day to 56,13 million barrels.
In 2017 is also projected to reduce oil production by countries outside OPEC. The organization’s experts suggest that oil production will decrease by 150 thousand barrels per day compared with the year 2016 up to 55,97 million barrels per day.
The Outlook for oil demand of OPEC countries in 2016 saved at the July level of 31.9 million barrels per day (1.9 million barrels per day higher than in 2015). Forecast organization’s demand for oil of OPEC countries in 2017 have not changed — 33 million barrels per day (1.1 million barrels per day higher than in 2016).
