Forecast for 2015 Balance of Supply and Demand - November 2015

Source: OPEC 11/18/2015, Location: Europe

Demand for OPEC crude in 2015 remained unchanged from the previous month at 29.6 mb/d, representing an increase of 0.6 mb/d from the 2014 level. All the quarters remained broadly unchanged versus the last assessment. The first quarter fell by 0.6 mb/d, while the second quarter grew by 0.3 mb/d. The third and the fourth quarters are expected to see growth of 0.8 mb/d and 1.9 mb/d, respectively, versus the same quarters of last year.

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