OPEC has maintained forecast for world oil demand in 2015 and 2016

OPEC has maintained forecast for world oil demand in 2015 and 2016


According to the forecast, OPEC, oil supplies from countries not members of the organization in 2016 may be reduced by 0.13 million barrels per day.

MOSCOW, 12 Nov. The organization of countries-exporters of oil (OPEC) kept its forecast for world oil demand in 2015 and 2016, following the November report of the organization. So, at the end of the current year the demand for “black gold” in the world is expected to grow by 1.5 million barrels per day — up to 92,86 million barrels per day in 2016 — at 1.25 million barrels per day, up to 94,11 million barrels per day.

According to forecasts, demand for OPEC oil in 2015, as in the previous report, will grow by 0.6 million barrels per day to 29.6 million barrels a day. In 2016 the indicator will amount to 30.8 million barrels per day (an increase of 1.2 million barrels per day), unchanged compared with the October report.

Oil supplies from countries not members of the organization, according to analysts of OPEC in 2015 will grow by 0.72 million barrels a day — 57,24 million barrels per day. The indicator remained at the same level compared with the previous forecast.

In 2016 shipments from countries not members of OPEC, for the first time since 2007 may be reduced by 0.13 million barrels per day — up to 57,11 million barrels per day (unchanged compared with the October report).

“Projects all over the world with production of about 5 million barrels a day were delayed or discontinued because of low oil prices… the Impact of lower capital investments in different regions of the world and reduce the production of stranded oil in the U.S. are the main reasons of negative dynamics in the next year,” says OPEC.

With regard to oil refining, OPEC analysts note that, despite peak season maintenance in October, when world refining capacity declined by more than 8 million barrels per day, margins fell worldwide due to the high volume of stocks and expectations of a warm winter.