Forecast for 2015 of Balance Supply and Demand

Source: OPEC 1/22/2015, Location: Europe

The demand for OPEC crude in 2015 was also revised down by 0.1 mb/d to stand at 28.8 mb/d, which is 0.3 mb/d less than the estimated 2014 level. The first and second quarter were revised down by 0.6 mb/d and 0.3 mb/d, respectively. In contrast, the fourth quarter was revised up by 0.3 mb/d. The third quarter remained unchanged compared with the previous report. The first and second quarters were expected to decline by 1.0 mb/d and 0.5 mb/d, respectively, compared with the same period one year earlier. The third quarter is projected to see negative growth of 0.1 mb/d, while the fourth quarter is expected to increase by 0.3 mb/d.


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