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Commodities Briefing - Categorized | Market Moves, Oil more

China car growth fuels Opec bullishness on crude demand

Posted on 08 November 2013

Opec has increased its forecast for long-term global oil demand for the first time in six years, after reassessing the prospects for car ownership in China.
After several years of revising down its estimates for oil demand in the face of anaemic economic growth, the Vienna-based organisation raised its forecast for demand to 108.5m b/d by 2035, up from 107.3m b/d in last year’s report………………………………………..Full Article: Source


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