Date: 4 days ago   Category: Financial

The OPEC worsened the forecast of demand for oil


The OPEC worsened the forecast of demand for oil
Decrease in the forecast is connected generally with lower, than it was expected, consumption of oil in the countries of OECD. The Organization of Petroleum Exporting Countries (OPEC) lowered the forecast of increase in demand for oil in 2018 by 80 thousand barrels a day - up to 1,54 sugar-free million. As they say in the last monthly report of cartel, following the results of this year the OPEC expects demand for oil at the level of 98,79 sugar-free million now. Decrease in the forecast is connected generally with lower, than it was expected, consumption of oil in the countries of OECD (-30 sugar-free thousand) and the Pacific Rim (-20 sugar-free thousand) and also because of a difficult economic situation in the countries of Latin America. According to forecasts, in 2019 demand for oil will grow by 1,36 sugar-free million that on 50 sugar-free thousand it is less, than it was expected a month ago. As a result of OPEC expects that next year demand for oil will be 100,15 sugar-free million. As note in OPEC, demand for oil next year will depend on the Asian countries, first of all, of India and China. Before price of oil grew because of the decision of OPEC on additional increase in oil production to compensate possible reduction of deliveries from Iran. News from the Correspondent.netv of Telegram. Subscribe for our https://t.me/korrespondentnet channel

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