Forecast for 2017 Balance of Supply and Demand - July 2016
Source: OPEC 7/20/2016, Location: Europe
Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for 2017, the demand for OPEC crude next year is projected to grow by 1.1 mb/d to average 33.0 mb/d. This is the second consecutive yearly increase. 1Q17 and 2Q17 are expected to increase y-o-y by 1.8 mb/d and 0.6 mb/d, respectively, while 3Q17 and 4Q17 are anticipated to see growth of 1.1 mb/d and 0.8 mb/d, respectively.
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