Azerbaijan, Baku, July 12 / Trend D.Khatinoglu
The Organisation of Petroleum Exporting Countries (OPEC) released its monthly report on July 12, saying demand for OPEC crude in 2012 remained almost unchanged from the previous assessment at 29.9 mb/d, indicating a decline of 0.1 mb/d compared to the previous year.
Despite a decrease in the world's oil demands for OPEC oil output, statistics released by this organisation indicates that the 12 OPEC members produced 31.363 mb/d in June, while Cartel's official oil crude output ceiling is 30 mb/d. However, OPEC output indicates a 105,900-barrel decrease in June compared to previous month.
OPEC says the demand for OPEC crude next year is projected to decline by 0.3 mb/d to average out at 29.6 mb/d.
According to the report, OPEC NGLs and non-conventional oils are expected to increase by 0.2 mb/d to average 5.9 mb/d for the year.
'World oil demand is forecast to continue to grow during 2013, to reach 0.8 mb/d y-o-y and average 89.5 mb/d which will be 70 tb/d lower than the estimate for the current year', OPEC reported.
With regard to the non-OPEC oil supply, the organisation says these countries' oil supply is forecast to average 53.06 mb/d in 2012, an increase of 0.67 mb/d over 2011, indicating a minor upward revision of 10 tb/d from the previous Monthly Oil Market Report (MOMR).
Preliminary figures indicate that global oil supply averaged 89.72 mb/d in June, around 100 tb/d lower than in the previous month.
OPEC crude is estimated to have a 35.0 per cent share in the global supply, steady from the previous month.