OPEC Sees Lower 2014 Oil Demand Growth, Pumps More

Although Iraq's northern exports have been disrupted since March, southern exports which are its main outlet to world markets have not been affected by fighting in other parts of the country. The prospect of a further rise in Libya looks uncertain given worsening fighting, say analysts.

World oil demand will rise by 1.21 million bpd in 2015, OPEC said, unchanged from last month. OPEC trimmed its forecast of next year's growth in non-OPEC supply by about 40,000 bpd but still expects an expansion of 1.27 million bpd, with the United States leading the way.

Two other reports on global supply and demand are due next Tuesday, from the International Energy Agency which advises industrialised countries, and the U.S. government's Energy Information Administration.

(Reporting by Alex Lawler; editing by Jason Neely)

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