OPEC Maintains Estimate for Global Oil Demand Growth in 2014
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The Organization of Petroleum Exporting Countries kept estimates for global oil demand growth in 2014 unchanged amid a stable outlook for the world economy.
World oil consumption will increase by 1 million barrels a day, or 1.2 percent, next year to about 90.8 million a day, the group’s Vienna-based secretariat said in its monthly market report today. Increasing output from countries outside OPEC means demand for the organization’s crude will slide to 29.7 million barrels a day, or about 600,000 a day less than its 12 members pumped last month, the report showed.