OPEC downs forecast for world oil demand
Baku, Azerbaijan, Nov. 11
By Elena Kosolapova – Trend:
World oil demand will reach 94.40 million barrels per day (bpd) in 2016, OPEC said in its Monthly Oil Market Report, published Nov. 11.
The forecast was adjusted down by 10,000 bpd from the previous month’s report.
“This follows a marginal downward adjustment to account for the slower-than expected performance of Latin America and the Middle East, which was almost entirely offset by better-than-expected oil demand growth data from OECD Europe and Asia Pacific,” OPEC said.
In 2015 global oil demand hit 93.17 million bpd, according to OPEC.