Balance of Supply and Demand - Dec 07

Source: OPEC_RP071207 12/14/2007, Location: Europe

Estimate for 2007
The demand for OPEC crude in 2007 is expected to average 31.71 mb/d, an increase of 140 tb/d over the 2006 figure. On a quarterly basis, demand for OPEC crude is expected to average 31.75 mb/d, 30.67 mb/d, 32.03 mb/d and 32.40 mb/d respectively. Ecuador figures are now included in OPEC supply.

Forecast for 2008
The demand for OPEC crude in 2008 is expected to average 31.39 mb/d, a decline of around 322 tb/d compared with the 2007 figure. On a quarterly basis, demand for OPEC crude is expected to average 31.91 mb/d, 30.44 mb/d, 31.27 mb/d and 31.95 mb/d respectively.


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