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OPEC Boosts 2015 Oil Demand Forecast Following ‘Swift’ Recovery
Nov. 08, 2011 05:44PM PST
Oil and Gas InvestingBloomberg reported that the Organization of Petroleum Exporting Countries elevated the estimates for global oil demand on prospects of economic rebound.
Bloomberg reported that the Organization of Petroleum Exporting Countries elevated the estimates for global oil demand on prospects of economic rebound.
As quoted in the market news:
Worldwide consumption will increase by 5.3 percent to 92.9 million barrels a day in the next four years, led by emerging Asian economies, OPEC said today in its annual World Oil Outlook. The 2015 estimate is 1.9 million barrels more than last year’s forecast. Still, Europe’s debt crisis and slowing U.S. growth pose risks, the group said.