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ESAI expects global oil demand growth at 1.2 mln bpd in 2013

Oil&Gas Materials 18 February 2013 18:12 (UTC +04:00)

Azerbaijan, Baku, Feb. 18 / Trend A.Badalova /

U.S. energy research and development firm ESAI (Energy Security Analysis) predicts global oil demand to increase by 1.2 million barrels per day (bpd) to 89.9 million bpd in 2013 compared to 88.7 million bpd in 2012.

ESAI's estimates show that in January 2012 global oil demand amounted to 88.7 million bpd.

According to the ESAI's report, the highest level of the global oil demand in 2013 will be observed in February - at 90.5 million bpd, while the lowest level at 88.6 million bpd will be observed in April.

Some 45.6 million bpd from total global oil demand in 2013, according to the ESAI's forecasts, will fall to the share of the OECD (Organisation for Economic Co-operation and Development) countries. Demand in non-OECD countries will amount to 44.3 million bpd this year compared to 43 million bpd in 2012.

ESAI expects non-OPEC oil supply to increase by 1.4 million bpd to 54.3 million bpd. In January oil supplies in these countries amounted to 53.8 million bpd.

According to the ESAI's forecasts, OPEC oil production will amount to 29.7 million bpd in 2013 compared to 31.3 million bpd in 2012. In January OPEC production amounted to 29.9 million bpd.

According to OPEC's last oil market report, oil production within the organization decreased by 0.21 million bpd to 30.32 million bpd in January, 2013.

Oil production increased in Angola, Iran, Iraq, and Venezuela, while declining in Saudi Arabia, Nigeria, Algeria, the UAE, and Libya, the report said.

OPEC's estimates show that in January, 2013 OPEC oil production, not including Iraq, averaged 27.29 million bpd, down by 50,000 bpd from December, 2012.

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