Off the wire
• Russia speeds up modernization of armed forces: Putin  • 1st LD: Putin, Kerry discuss closer Russia-U.S. cooperation on Ukraine crisis  • UN official urges for implementation of ceasefire in Yemen  • Interview: Lebanese economy minister hails China's Belt and Road initiative  • U.S., Chinese researchers find potential drug target for Parkinson's disease  • Feature: China stands out at Expo Milano 2015  • Police question 4 students over threats to bomb school  • Urgent: Putin, Kerry discuss closer Russia-U.S. cooperation on Ukraine crisis  • Israeli PM express gratitude to Germany for boosting Israel's security  • Urgent: U.S. Marine Corps helicopter missing in Nepal: U.S. military  
You are here: 　 Home

OPEC sees more global oil demand in 2015

Xinhua, May 13, 2015 Adjust font size:

The Organization of the Petroleum Exporting Countries (OPEC) said in its monthly report on Tuesday that worldwide demand for oil will grow slightly more than previously expected in 2015.

"World oil demand in 2015 is now projected to rise at a slightly higher 1.18 mb/d, compared to last month's estimate of 1.17 mb/d," OPEC said in its report, saying the world demand would reach around 92.50 million barrels per day (bpd) in 2015.

The report also slightly revised upward the forecast of oil demand for OPEC crude in 2015 to 29.3 million barrels per day (bpd), 0.3 million bpd higher than the estimate for 2014, but still lower than its output at an average of 30.84 million bpd.

However, the OPEC saw a declining number of oil rigs in the U.S. which began from March.

"Based on the EIA's weekly report, U.S. crude oil output began decreasing from the end of the third week of March following a decline of 784 oil rigs starting on 10 October 2014," the cartel said.

OPEC revised downward the growth of U.S. oil supply by 40 thousand bpd to 0.70 million bpd in 2015 compared to previous report. Endit