OPEC expects growth in global oil demand up to 100.3 million bpd next year


July 11, Fineko/abc.az. OPEC keeps its forecast on global oil demand in 2018.

Cartel’s monthly report says that in 2018 the demand will increase by 1.65 million bpd compared to the previous year and will reach 98.85 million bpd. In 2019 the world demand for oil is expected to increase by 1.45 million bpd up to 100.3 million bpd.

According to preliminary data, in May oil reserves in OECD countries (Organization for Economic Cooperation & Development) increased by 8.6 million barrels for the month up to 2.823 million barrels that is by 40 million barrels below the average five-year level. At that, oil reserves show deficit of 15 million barrels compared to the average 5-year level, and oil products reserves - deficit of 26 million barrels.