Forecast for 2017 Balance of Supply and Demand - October 2016
Source: OPEC 10/13/2016, Location: Europe
For 2017, demand for OPEC crude was also revised up by 0.1 mb/d from the previous report and was projected to increase by 0.8 mb/d to average 32.6 mb/d. Within the quarters, 1Q17 and 2Q17 were revised up by 0.2 mb/d and 0.1 mb/d, respectively, while 3Q17 remained unchanged. 4Q17 was revised up by 0.1 mb/d. 1Q17 and 2Q17 are expected to increase by 1.2 mb/d and 0.1 mb/d, respectively, while 3Q17 and 4Q17 are projected to increase by 1.0 mb/d and 0.8 mb/d, respectively, versus the same quarters this year.
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