Forecast for 2015 Balance of Supply and Demand - September 2015

Source: OPEC 10/10/2015, Location: Europe

Demand for OPEC crude in 2015 was revised up by 0.1 mb/d from the previous month to 29.3 mb/d, representing an increase of 0.4 mb/d over the 2014 level. The first two quarters were revised up by 0.2 mb/d each, while the third and fourth quarters were revised up by 0.1 mb/d each. This upward revision reflects an upswing in demand combined with a downward adjustment to non-OPEC production. The first quarter fell by 0.6 mb/d, while the second quarter grew by 0.2 mb/d. The third and the fourth quarters are expected to see growth of 0.5 mb/ and 1.5 mb/d, respectively, versus the same quarter a year ago.

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