WORLD OIL DEMAND 2014 - 15

World Oil Demand

In 2014, world oil demand was relatively unchanged from the previous MOMR; total world oil demand growth for 2014 now stands at 1.13 mb/d after a marginal downward revision of 10 tb/d, accounting for the latest actual data for 2Q14. 

In 2015, world oil demand is projected to grow at a higher rate than in 2014, growing by 1.21 mb/d from the 2014 level to average around 92.35 mb/d. The 2015 growth level of 1.21 mb/d signifies a 0.08 mb/d increase from the growth foreseen for this year. Non-OECD countries are likely to lead oil demand growth with 1.18 mb/d in total demand while OECD nations are predicted to marginally rise for the first time since 2010, recording growth of 35 tb/d. The progress of economic development in major economies around the globe is the key risk factor affecting the world oil demand projection in 2015.

opec.org