Forecast for 2017 Balance of Supply and Demand - December 2016

Source: OPEC 12/20/2016, Location: Europe

For 2017, demand for OPEC crude was revised down by 0.1 mb/d from the previous MOMR and is projected to increase by 0.7 mb/d, to average 32.6 mb/d. Within the quarters, 2Q17 was revised down by 0.1 mb/d, while the other quarters remained unchanged. 1Q17 and 2Q17 are expected to increase by 1.3 mb/d and 0.2 mb/d, respectively; 3Q17 and 4Q17 are projected to increase by 0.7 mb/d and 0.6 mb/d, respectively, versus the same quarters this year.

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