Demand for crude oil likely to be the weakest in 12 yearsStaff writer ▼ | December 10, 2014
The Organization of Petroleum Exporting Countries (OPEC) now sees the demand for its crude in 2015 at 12-year low.
In 2015 The Organization of Petroleum Exporting Countries:
Moreover, the demand seen in 2015 is below the 28.93 million recorded in 2009, and the lowest since the 27.05 million a day level needed in 2003.
The downward revision of the OPEC's demand forecast has not had a significant impact on the Crude prices so far. Meanwhile, the group revised higher its forecasts of non-OPEC supplies in 2015 by 120,000 barrels a day. ■