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OPEC lowers world oil demand outlook
Sees significant downside risks for oil markets ahead
2013 demand at 89.5Mbpd vs 90.7mbpd previously
2012 demand at 88.7mbpd vs 89.5mbpd previously
Projects world GDP at +3.2% in 2013, +3.5% in 2014
Assumes $100-$120 range until 2025 compared to $85-$95 previously
87% of oil demand increase will be from Asia.
They resolved the contraction of lowering demand forecasts while raising price expectations by saying it’s due to “the perception of how the costs of supplying the marginal barrel might evolve, as well as taking into account the effects of depletion.”
ROPA OIL BRENT
ROPA OIL BRENT
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