OPEC Grows More Bullish on Oil Demand

Date: 11 October 2017 - 20:19

News ID: ۴۵۱۶۹

LONDON (Financial Times) - OPEC expects stronger demand for its crude oil next year due to higher consumption growth and lower estimates for supply from outside the cartel, as relatively low prices boost driving and crimp output.
The cartel’s monthly oil market report said its in-house analysts now expected demand for OPEC’S oil to reach 33.1m barrels a day in 2018, up by roughly 200,000 b/d from last month’s forecast, with the reason for the increase largely split between stronger demand and lower estimates of non-OPEC supply.
The increase comes as the 14-member cartel prepares to meet in Vienna next month to decide whether to rollover output curbs that have been in place since January, in conjunction with other large producers like Russia.