Forecast for 2016 Balance of Supply and Demand - June 2016
Source: OPEC 6/21/2016, Location: Europe
Demand for OPEC crude for 2016 remained unchanged from the previous MOMR and is projected to increase by 1.8 mb/d to average 31.5 mb/d. Within the quarters, both 1Q16 and 4Q16 were revised down by 0.2 mb/d and 0.1 mb/d, respectively, while 2Q16 was revised up by 0.1 mb/d. 3Q16 remained unchanged. 1Q16 and 2Q16 are expected to increase by 1.0 mb/d and 2.1 mb/d, respectively, while 3Q16 and 4Q16 are both projected to increase, rising by 2.2 mb/d and 1.8 mb/d, respectively.
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