Balance of Supply & Demand Forecast for 2012 – April 2012

Source: OPEC 5/4/2012, Location: Europe

The demand for OPEC crude for 2012 is projected to average 30.0 mb/d, unchanged from the last report, as both world oil demand and non-OPEC supply saw only minor adjustments. Within the quarters, only the fourth quarter experienced a downward revision of around 0.1 mb/d, while the others remained at the same level as in the previous report. Compared with the same time last year, the first, third and fourth quarters are projected to see negative growth of 0.1 mb/d, while the second quarter is expected to remain unchanged.


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