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OPEC to maintain world oil demand forecast unchanged

(Xinhua)
Updated: 2008-03-15 11:34

VIENNA -- The world oil demand in 2008 was forecast to grow by 1.2 million barrels daily to an average of 87 million barrels per day, the Organization of Petroleum Exporting Countries (OPEC) said in a report Friday.

This estimation is in line with OPEC's estimation last month.

Related readings:
 OPEC oil prices surpass US$ 100
 OPEC keeps oil output steady
 OPEC could ditch dollars for euros: chief
 OPEC rejects call for higher output

The report said that the growth of world oil demand was mainly due to the economic growth in some regions, particularly some non-OECD countries' large demand for their economic development.

The report also estimated the further less demand of the international market for OPEC`s oil in 2008, which would slightly drop to a daily average demand of 31.7 million barrels, 0.2 million barrels less than 2007.

According to the data provided by the OPEC, the daily average demand of the international market for OPEC`s oil in February was 32.1 million barrels, 82,500 barrels more than January. However, the data provided by "Platts" showed a total amount of all OPEC member countries` daily output of 32.33 million barrels.

Meanwhile, the report pointed out that the non-OPEC countries` daily output in 2008 would be 900,000 barrels more, 200,000 barrels less than the original estimation.

On March 13, the daily average prices of OPEC rushed to a new price peak of US$102.39, US$1.01 higher than the previous day.



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