world oil demand growth is expected to rise by 142 mbd in 2017 135 mbd in 2018
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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World oil demand growth is expected to rise by 1.42 mb/d in 2017, 1.35 mb/d in 2018

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Arab Today, arab today World oil demand growth is expected to rise by 1.42 mb/d in 2017, 1.35 mb/d in 2018

OPEC
VIENNA - WAM

World oil demand growth in 2017 is expected to rise by 1.42 mb/d after an upward revision of around 50 tb/d,according to OPEC Monthly Oil Market Report, MOMR.

''The adjustment mainly reflects better-than-expected data from OECD region for the 2Q17, particularly OECD Americans and Europe, as well as China. In 2018, world oil demand is anticipated to grow by 1.35 mb/d, an increase of 70 tb/d from the previous report. This reflects higher growth expectations for OECD Europe and China,'' said the report for August.

''Non-OPEC oil supply is expected to grow by 0.78 mb/d in 2017, unchanged from the last month due to offsetting revisions in Kazakhstan and US supply. In 2018, non-OPEC oil supply is forecast to grow by 1.0 mb/d, following a downward revision to Russia and Kazakhstan, totalling 0.1 mb/d. OPEC NGLs and non-conventional liquids production are seen averaging 6.49 mb/d in 2018, representing an increase of 0.18 mb/d, broadly in line with growth in the current year. In August, OPEC crude oil production decreased by 79 tb/d, according to secondary sources, to average 32.76 mb/d,'' the report stated.

Based on the current global oil supply/demand balance, it said, OPEC crude in 2017 is estimated at 32.7 mb/d, around 0.5 mb/d higher than in 2016. Similarly, OPEC crude in 2018 is estimated at 32.8 mb/d, about 0.2 mb/d higher than in 2017.

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world oil demand growth is expected to rise by 142 mbd in 2017 135 mbd in 2018 world oil demand growth is expected to rise by 142 mbd in 2017 135 mbd in 2018

 



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world oil demand growth is expected to rise by 142 mbd in 2017 135 mbd in 2018 world oil demand growth is expected to rise by 142 mbd in 2017 135 mbd in 2018

 



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