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Non-OPEC crude oil supply to surge in 2013: Forecasts

Posted on 15 July 2013

Non-OPEC crude oil supply is expected to grow by 1.12 mn barrels per day (mb/d) in 2013, an upward revision of 0.64 mb/d which foretasted earlier, stated London based Barclays in its recent market report. Non‐OPEC crude oil supply is forecast to increase by 1.3 mb/d in 2014, higher than an upwardly revised 1.2 mb/d for 2013, said International Energy Agency in its recent release.
Global crude oil demand is forecast to grow by 1.2 mb/d in 2014, following upwardly‐revised growth of 930 kb/d in 2013. Unseasonably cold weather in the OECD helped to raise the estimates for 2Q13 and full year 2013 by 645 kb/d and 215 kb/d, respectively, IEA added………………………………………..Full Article: Source


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