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Balance of Supply and Demand in 2018 - August 2017

Source: OPEC 8/24/2017, Location: Europe

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Demand for OPEC crude for 2018 was revised up by 0.2 mb/d from the previous month. Within the quarters, the first quarter remained unchanged, while the second, third and fourth quarters were revised up by 0.4 mb/d, 0.1 mb/d and 0.3 mb/d, respectively. The demand for OPEC crude is projected at 32.4 mb/d, almost at the same level as 2017.

Compared to the same quarters in 2017, the first quarter is expected to increase by 0.4 mb/d, while all other quarters are projected to decline.

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