Baku, Azerbaijan, Oct.11
By Leman Zeynalova – Trend:
World oil demand growth for 2017 is expected to stand at 1.45 million barrels per day (mb/d) to average 96.80 mb/d, according to OPEC’s October Monthly Oil Market Report.
World oil demand growth for 2017 was revised higher by around 30,000 barrels per day, compared to the previous month’s report, reflecting the positive momentum in the Organization for Economic Cooperation and Development (OECD) region and China, said OPEC.
World oil demand growth for 2018 was also revised upward by around 30,000 b/d from the previous month’s report.
It is now anticipated to be around 1.38 mb/d, with total global consumption forecast at 98.19 mb/d, according to the report.
This is while in its previous report, OPEC forecasted world oil demand growth at 1.42 million b/d, with total global consumption at 96.77 million b/d in 2017.
For 2018, the cartel expected this figure to stand at 1.35 million b/d, with total global consumption of around 98.12 million b/d.
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