OPEC Sees Higher Oil Demand, Signs Of Tighter Market
by Reuters
|
Alex Lawler | Tuesday, September 12, 2017 | 11:01 AM EST
OPEC forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market.
OPEC estimated supply from non-OPEC countries next year would rise by 1 million bpd, down 100,000 bpd from the previous forecast, citing downward revisions to Russia and Kazakhstan.
Should OPEC keep pumping at August's rate, the market would see a small supply deficit next year, versus a 450,000-bpd surplus implied by last month's report.
(Editing by Dale Hudson and Jason Neely)
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September 16, 2017
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