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2018-02-14 10:00:00

OPEC'S OIL DEMAND: 32.86 MBD

OPEC'S OIL DEMAND: 32.86 MBD

PLATTS - With oil prices some 25% higher than a year ago encouraging more drillers to get back into the game, especially in the US, OPEC on Monday was again prompted to concede that far more crude from outside the bloc would be supplied to market this year than it had previously expected.

In its closely watched monthly oil market report, OPEC revised upward its projection of 2018 non-OPEC production to 59.26 million b/d, an increase of 1.40 million b/d from 2017 and up 320,000 b/d from last month's forecast.

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Tags: OPEC, OIL, DEMAND

Chronicle:

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