Forecast for Balance of Supply and Demand for 2013
Source: OPEC 6/22/2013, Location: Europe
Demand for OPEC crude in 2013 remains unchanged from the previous assessment to stand at 29.8 mb/d, representing a decline of 0.4 mb/d compared with the previous year.
Within quarters, the first quarter was revised down by 0.1 mb/d, reflecting the downward revision in world oil demand as non-OPEC supply remained unchanged. The other three quarters remained unchanged from the previous report. The first quarter is now estimated to have fallen by 0.2 mb/d, compared to the same quarter last year. The second and third quarters are expected to see a negative growth of 0.5 mb/d and 0.7 mb/d respectively, while the fourth quarter is forecast to decline by 0.2 mb/d.
Within quarters, the first quarter was revised down by 0.1 mb/d, reflecting the downward revision in world oil demand as non-OPEC supply remained unchanged. The other three quarters remained unchanged from the previous report. The first quarter is now estimated to have fallen by 0.2 mb/d, compared to the same quarter last year. The second and third quarters are expected to see a negative growth of 0.5 mb/d and 0.7 mb/d respectively, while the fourth quarter is forecast to decline by 0.2 mb/d.
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