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Balance of Supply and Demand - October 06

Source: OPEC_RP061013 10/16/2006, Location: Europe

Estimate for 2006
The estimated demand for OPEC crude in 2006 is expected to average 28.7 mb/d. The demand for OPEC has been revised down 0.2 mb/d following lower expectations for demand growth. On a quarterly basis, actual data shows demand for OPEC crude at 29.8 mb/d in the first and 28.3 mb/d in the second quarter, and estimated at 28.2 mb/d in the third and 28.7 mb/d in the fourth quarter.

Forecast for 2007
The estimated demand for OPEC crude in 2007 is expected to average 28.1 mb/d, unchanged from the previous MOMR. On a quarterly basis, the forecast shows that demand for OPEC crude is expected at 29.2 mb/d in the first, 27 mb/d in the second, 27.8 mb/d in the third and 28.3 mb/d in the fourth quarter.

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