Low Oil Prices to Hit Non-OPEC Output, Boost Demand in 2016

Source: Al Masry Al Youm 9/11/2015, Location: Africa

Low crude oil prices will lead to a pick up in demand and next year may cause the biggest drop in non-OPEC output in nearly a quarter of a century, the IEA said.

With global oil prices now under $50 per barrel, the International Energy Agency said it sees demand rising from 94.4 million barrels per day this year to 95.8 next year, while non-OPEC output may fall by nearly half a million barrels per day.

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