Forecast for Balance of Supply and Demand for 2012 – August 2012

Source: OPEC 8/25/2012, Location: Europe

Demand for OPEC crude for 2012 is projected to average 29.9 mb/d, about 80,000 b/d lower than last month’s estimate, due mainly to an upward revision to non-OPEC supply, since demand has remained unchanged. Within the quarters, 1Q12 remains unchanged. 2Q12 sees an upward revision of 0.1 mb/d, while 3Q12 and 4Q12 have been revised down by 0.1 mb/d and 0.3 mb/d respectively. Demand for OPEC crude in 2012 shows a decrease of 0.1 mb/d from last year. 1Q12 is estimated to decline by 0.6 mb/d versus the same quarter last year; 2Q12 and 3Q12 are projected to increase by 0.2 mb/d and 0.1 mb/d respectively, while 4Q12 is forecast to decline by 0.2 mb/d.

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

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