Forecast for Balance of Supply and Demand for 2013
Source: OPEC 5/28/2013, Location: Europe
Demand for OPEC crude in 2013 has been revised up by 0.1 mb/d from the previous report to stand at 29.8 mb/d. This represents a decline of 0.4 mb/d, compared to a year earlier. The upward revision came from the adjustment in non-OPEC supply and OPEC NGLs, as demand remained unchanged. Within quarters, 1Q13 remained unchanged, while the other three quarters saw an upward revision of 0.1 mb/d.
In quarterly terms, 1Q13 is estimated to fall by 0.1 mb/d versus the same quarter last year; while 2Q13 and 3Q13 are expected to see negative growth of 0.6 mb/d and 0.7 mb/d, respectively. 4Q13 is forecast to drop by 0.2 mb/d versus the same quarter last year.
In quarterly terms, 1Q13 is estimated to fall by 0.1 mb/d versus the same quarter last year; while 2Q13 and 3Q13 are expected to see negative growth of 0.6 mb/d and 0.7 mb/d, respectively. 4Q13 is forecast to drop by 0.2 mb/d versus the same quarter last year.
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