Opec raises forecast for 2014 global oil demand
London, March 12, 2014
World oil demand will increase more than expected in 2014, Opec said on Wednesday, raising its prediction for a second straight month as economic growth picks up in Europe and the United States.
The Organization of the Petroleum Exporting Countries (Opec), in a monthly report, said global demand will rise by 1.14 million barrels per day (bpd) this year, up about 50,000 bpd from its previous forecast.
Opec's view on global demand growth contrasts with that of the US government's Energy Information Administration, which on Tuesday cut its forecast by 40,000 bpd to 1.22 million bpd.
The Opec report also raised the forecast for average demand for Opec crude in 2014 to 29.70 million bpd, up 100,000 bpd. - Reuters