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OPEC Sees U.S. Fueling Acceleration in Global Oil Demand Next Year

Posted on 11 July 2014

Rising U.S. oil consumption will reverse a four-year demand decline in rich nations and drive a pick up world-wide next year, the Organization of the Petroleum Exporting Countries said Thursday. The assessment—the first given for 2015 by the oil producers’ group—shows the U.S. is scooping more of its own oil amid a production boom just as OPEC’s role continues to decrease.
In its monthly oil market report, OPEC said global oil demand growth will pick up next year amid robust economic growth. World consumption will increase by 1.21 million barrels a day in 2015, compared with a rise of 1.13 million barrels a day this year, the group said………………………………………..Full Article: Source


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