Demand for OPEC crude for 2015 was revised up by 0.3 mb/d to 29.6 mb/d from the previous month, representing an increase of 0.6 mb/d from the year-ago level. This upward revision reflects the upward revision in demand combined with the downward adjustment in non-OPEC supply. Within the quarters, 1Q15 and 2Q15 were revised up by 0.1 mb/d and 0.2 mb/d, respectively, and 3Q15 and 4Q15 were revised up 0.3 mb/d and 0.5 mb/d, respectively. 1Q15 fell by 0.6 mb/d, while 2Q15 grew by 0.3 mb/d. 3Q15 and 4Q15 are expected to see growth of 0.8 mb/ and 1.9 mb/d, respectively, versus the same quarter last year.
