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World oil demand in 2015 forecast to grow 1.2 mb/d

Posted on 31 July 2014

Despite some weakness in the first half of the year, the world economy continues to recover, OPEC Monthly Oil Market Report for July 2014 said. Global GDP growth in 2014 is now forecast at 3.1 percent, slightly higher than the estimated 2.9 percent for 2013. The US experienced a surprisingly large contraction in economic activity in the first quarter due to severe winter weather, leading to a downward revision in US GDP growth to 1.6 percent from 2.4 percent previously.
However, with the US economy expected to rebound and continued large monetary stimulus in the Euro-zone and Japan, the OECD is seen growing by 1.7 percent in 2014 and 2.0 percent in 2015………………………………………..Full Article: Source


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