VIENNA, 10 February. The organization of countries-exporters of oil (OPEC) lowered its forecast for growth in global oil demand in 2016 to 10 thousand barrels per day and now expects demand this year will grow by 1.25 million barrels per day compared to year 2015. This is stated in the February report of the organization.
The Outlook on the volume of demand in 2016 was raised to 40 thousand barrels/day, compared with a January estimate – to 94,21 million barrels/day.
The ability to reduce oil production by 5%, but it will be difficult to negotiate
Assessment OPEC, demand for oil in 2015 was $ 92,96 million barrels/day, which is 1.54 million barrels/day more than the previous year.
In addition, OPEC has raised its estimate of oil production in 2015 by countries outside the organization, to 90 thousand barrels per day to 56,99 million barrels a day, to 1.32 million bpd more than the previous year.
At the same time, the forecast for this indicator, in 2016, the experts of the OPEC lowered by 40 thousand barrels per day and expected reduction of oil production by 700 thousand barrels a day to 56,28 million barrels per day.
Assessment of demand for OPEC oil countries of the organization in 2015 was reduced by 100 thousand barrels/day compared with the January expectations. OPEC experts now estimate this figure at 29.8 million barrels/day, 100 thousand barrels/day more than in 2014.
The demand for oil of OPEC in 2016 is projected at 31.6 m barrels per day, which is 1.8 million barrels per day above the previous year.
Oil prices over 40 years