Forecast for 2016 Balance of Supply and Demand - September 2016
Source: OPEC 9/24/2016, Location: Europe
Demand for OPEC crude for 2016 was revised down by 0.2 mb/d to stand at 31.7 mb/d, representing an increase of 1.7 mb/d from the previous year. Within the quarters, 1Q16 and 2Q16 remain unchanged, while 3Q16 and 4Q16 were revised up by 0.3 mb/d and 0.4 mb/d, respectively. 1Q16 and 2Q16 rose by 1.0 mb/d and 2.3 mb/d, respectively, versus the same quarters last year; while 3Q16 and 4Q16 are estimated to show growth of 1.8 mb/d and 1.7 mb/d, respectively.
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