Forecast for Balance of Supply and Demand for 2013

Source: OPEC 4/18/2013, Location: Europe

Demand for OPEC crude in 2013 remained slightly unchanged from the previous report to stand at 29.7 mb/d. This represents negative growth of 0.4 mb/d compared to the 2012 level. Within the quarters, the first remained unchanged, while the second and third experienced an upward revision of 0.1 mb/d. In contrast, the fourth quarter was revised down by 0.1 mb/d.

The first quarter is estimated to remain unchanged versus the same quarter last year, whiel the second and third are expected to see negative growth of 0.8 mb/d each. The fourth quarter is forecast to remain unchanged compared to the same period a year ago.


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