Forecast for 2015 Balance of Supply & Demand - June 2015

Source: OPEC 6/16/2015, Location: Europe

Demand for OPEC crude for 2015 also remained unchanged from the previous month averaging 29.3 mb/d, representing an increase of 0.3 mb/d from the estimated level in the previous year. The first quarter is expected to decline by 0.8 mb/d, compared with the same period last year, while in contrast, the third and the fourth quarters are projected to increase by 0.5 mb/d and 1.5 mb/d, respectively. The second quarter remains at the same level as a year earlier.

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