RSS   Newsletter   Contact   Advertise with us

OPEC forecasts: Demand for oil will slide

Staff writer ▼ | April 14, 2016
The Organization of Oil Exporting Countries (OPEC) released a downward revision of its forecasts for oil demand this year.
OPEC
Oil industry   Total consumption will be 92.18 million barrels per day
According to Opec's monthly report, total consumption will be 92.18 million barrels per day (bpd) in 2016, 50,000 bpd less than the prior estimate.

Opec said "economic developments" in Latin America and China are a "concern," in a reference to the slowdown in those economies.

Even as the world's leading oil producer, Saudi Arabia, refrained from stepping up its output, all Opec member countries produced a combined 32.25 million bpd, up 15,000 bpd from February.


 

MORE INSIDE POST