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Balance of Supply and Demand - Oct 08

Source: OPEC_RP081013 10/15/2008, Location: Europe

Estimate for 2008
The demand for OPEC crude is expected to average 32.0 mb/d, a decrease of 260 tb/d over the 2007 figure. On a quarterly basis, the demand for OPEC crude is estimated at 32.6 mb/d, 31.1 mb/d, 32.0 mb/d and 32.4 mb/d respectively.

Forecast for 2009
Demand for OPEC crude in 2009 is projected to average 31.1 mb/d, a decline of around 870 tb/d compared with the 2008 figure. On a quarterly basis, the required OPEC crude is expected to average 31.3 mb/d, 30.3 mb/d, 30.6 mb/d and 32.4 mb/d respectively.

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