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Forecast for 2016 Balance of Supply and Demand August 2015

Source: OPEC 9/5/2015, Location: Europe

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Demand for OPEC crude in 2016 saw a slight upward revision from the previous month. The second quarter was revised up by 0.1 mb/d, while the other three quarters were left unchanged. Demand for OPEC crude next year is projected to increase by 0.9 mb/d to average 30.1 mb/d.

The first and second quarters are expected to increase by 1.5 mb/d and 1.3 mb/d, respectively, while the third and the fourth quarters are projected to increase by 0.7 mb/d and 0.1 mb/d, respectively.

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