OPEC monthly report now published 12 July 2016
- cites Brexit uncertainty
Why not? Everyone else is.
- 2017 forecast says global oil demand to rise by 1.15m bpd
- leaves 2016 world oil demand growth forecast virtually unchanged at 1.19m bpd
- expects demand for its crude to average 32.98m bpd in 2017 vs 31.86m bpd in 2016
- expects non-OPEC supply to fall by 110k bpd in 2017
- oil market conditions will help to remove excess oil stocks in 2017
Full report here
