Balance of Supply and Demand - Dec 06

Source: OPEC_RP061213 12/18/2006, Location: Europe

Estimate for 2006
The estimated demand for OPEC crude in 2006 is expected to average 28.9 mb/d. On a quarterlybasis, the new forecast shows that demand for OPEC crude is expected at 29.8 mb/d in the first,28.2 mb/d in the second, 28.6 mb/d in the third and 29.1 mb/d in the fourth quarter. According tosecondary sources, average total OPEC crude capacity was 32.1 mb/d in the first, 32.3 mb/d inthe second, and 32.5 mb/d in the third quarter.

Forecast for 2007
The estimated demand for OPEC crude in 2007 is expected to average 28.3 mb/d, representing adecline of 0.6 mb/d versus 2006. On a quarterly basis, the forecast shows that demand for OPECcrude is expected at 29.4 mb/d in the first, 27.2 mb/d in the second, 27.9 mb/d in the third and28.5 mb/d in the fourth quarter.


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