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Balance of Supply and Demand - Mar 07

Source: OPEC_RP070303 3/15/2007, Location: Europe

Estimate for 2006
The demand for OPEC crude in 2006 is estimated to average 30.4 mb/d. On a quarterly basis, the estimate shows that demand for OPEC crude was 31.3 mb/d, 29.6 mb/d, 30.2 mb/d and 30.6 mb/d respectively. According to secondary sources, total OPEC crude capacity was 34.8 mb/d at the end of 2006, up from 33.8 mb/d at the end of 2005.

Forecast for 2007
The demand for OPEC crude in 2007 is expected to average 30.40 mb/d, broadly unchanged from the 2006 figure. On a quarterly basis, the forecast shows that demand for OPEC crude is expected at 31.27 mb/d, 29.37 mb/d, 30.45 mb/d and 30.51 mb/d respectively.



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