Balance of Supply and Demand - Feb 08

Source: OPEC_RP080203 2/15/2008, Location: Europe

Estimate for 2007
The demand for OPEC crude in 2007 is estimated to average 31.91 mb/d, an increase of 289 tb/d over the previous year. On a quarterly basis, demand for OPEC crude is estimated to average 31.81 mb/d, 30.73 mb/d, 32.11 mb/d and 32.97 mb/d respectively.

Forecast for 2008
The demand for OPEC crude in 2008 is expected to average 31.53 mb/d, a decline of around 375 tb/d compared with 2007. On a quarterly basis, demand for OPEC crude is expected to average 32.07 mb/d, 30.64 mb/d, 31.38 mb/d and 32.03 mb/d respectively.


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