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Global oil demand expected to grow along with economy, cartel says

Posted on 11 July 2014

The Organization of Petroleum Exporting Counties said Thursday it expected the world will need more oil because of improvements in the global economy. Global oil demand for 2015 is expected to grow by 1.2 million bpd to average 92.3 million bpd as the world economy picks up steam, OPEC said in its monthly market report.
“Despite some weakness in the first half of the year, the world economy continues to recover,” the report said. “Global gross domestic production growth in 2014 is now forecast at 3.1 percent, slightly higher than the estimated 2.9 percent for 2013.”……………………………………….Full Article: Source


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