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OPEC raises oil demand forecast

Posted on 13 March 2014

The Organization of the Petroleum Exporting Countries boosted its closely watched forecast for oil demand growth for the second month in a row Wednesday, despite continuing to warn of possible emerging market headwinds. In its monthly oil market report, the cartel of some of the world’s biggest oil producers upgraded its forecast for demand growth this year by 50,000 barrels a day, after tweaking its expectations higher by the same amount last month.
The producer group now expects oil demand to increase by 1.14 million barrels a day this year, largely as a result of higher consumption in North America, as well as improved demand in Europe and Africa. Total oil demand for 2014 is pegged 91.1 million barrels a day………………………………………..Full Article: Source


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