OPEC expects oil demand to rise in 2018
09:19 - 13/02/20180
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OPEC expected global demand for oil to grow more rapidly than expected in 2018 due to the strength of the global economy.
According to OPEC's monthly report released on Monday, global demand for oil will rise by 1.59 million barrels per day this year, an increase of 60,000 barrels per day than previously forecast.
"Recent healthy and stable economic developments in major global oil demand centers have been the main driver behind strong oil demand growth," the organization said.
"This close link between economic growth and oil demand is expected to continue, at least in the short term," she said.
However, the report pointed out that the oil market will not be balanced again until the end of 2018 because high prices encourage the United States and other non-OPEC producers to pump more oil.
OPEC expected non-OPEC producers to increase supply by 1.4 million bpd this year. This is an increase of 250 thousand barrels per day from the previous month, the third straight from the forecast was 870 thousand barrels per day in November.
Oil prices were slightly changed after the report was published, maintaining recent gains to trade below $ 64 a barrel. The price exceeded $ 70 per barrel this year for the first time since late 2014. / ended 25 d