Forecast for Balance of Supply and Demand for 2013– August 2012

Source: OPEC 8/31/2012, Location: Europe

Demand for OPEC crude for 2013 has been revised down by 0.1 mb, reflecting the upward revision to non-OPEC supply as global demand remains unchanged. 1Q13 and 2Q13 see downward adjustments of 0.2 mb/d and 0.1 mb/d respectively, while 3Q13 and 4Q13 remains unchanged. The required OPEC crude is forecast to average 29.5 mb/d, which is 0.4 mb/d lower than in 2012. 1Q13 is estimated to increase by 0.1 mb/d versus the same quarter last year, while the other quarters are expected to see negative growth, with the bulk of the decrease coming from 2Q13, falling by 0.5 mb/d. 3Q13 and 4Q13 are forecast to drop by 0.5 mb/d and 0.4 mb/d respectively.

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

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