Baku, Azerbaijan, June 13
By Leman Zeynalova – Trend:
Demand for OPEC crude in 2017 was revised up by 0.1 million barrels per day from the previous month, the cartel said in its June Oil Market Report.
This upward adjustment was mainly due to the downward revision in non-OPEC supply as world oil demand remained unchanged, said the report.
“Within the quarters, the first quarter remained unchanged, while the second quarter was revised down by 0.1 million barrels per day. Both the third and the fourth quarters were each revised up by 0.2 million barrels per day,” said OPEC.
Demand for OPEC crude this year is projected to increase by 0.3 million barrels per day to average 32 million barrels per day.
“Compared to the same quarters of last year, the first quarter is expected to increase by 1.0 million barrels per day, while all other quarters are estimated to remain unchanged,” said the report.
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