Forecast for Balance of Supply and Demand for 2013
Source: OPEC 2/26/2013, Location: Europe
Demand for OPEC crude for 2013 has been revised up by 0.1 mb/d from the previous report to stand at 29.8 mb/d. This represents negative growth of 0.3 mb/d compared to 2012. The upward revision came from an adjustment in world oil demand, as non-OPEC supply remained broadly unchanged.
The first and second quarters saw an upward adjustment of 0.1 mb/d, while the third remained unchanged from the previous report. The fourth quarter experienced an upward revision of 0.3 mb/d. The first quarter is estimated to increase by 0.2 mb/d versus a year ago; while the second and third are expected to see negative growth of 0.6 mb/d and 0.7 mb/d, respectively. The fourth quarter is forecast to drop by 0.1 mb/d from the same quarter last year.
The first and second quarters saw an upward adjustment of 0.1 mb/d, while the third remained unchanged from the previous report. The fourth quarter experienced an upward revision of 0.3 mb/d. The first quarter is estimated to increase by 0.2 mb/d versus a year ago; while the second and third are expected to see negative growth of 0.6 mb/d and 0.7 mb/d, respectively. The fourth quarter is forecast to drop by 0.1 mb/d from the same quarter last year.
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