Direction Press / Agencies
Organization of Petroleum Exporting Countries "OPEC" predicted that the rising demand for OPEC crudes size during the current year at the level of "9.31" million barrels a day any more about "9.1" million barrels compared to last year.
The organization said in its periodic report for the month this November, "the demand for raw materials will continue to rise through 2017 to reach" 7.32 "million barrels per day higher than average this year, indicating that the rate of crude basket prices," OPEC "gained" 98.4 "dollars in October last year to an average this price" 87.47 "dollars a barrel.
She added that the British Brent oil price rose by 15.4 "" dollars a barrel to settle at "39.51" dollars a barrel, while the price of West Texas in the US rose up to "71.4 per barrel," dollars to settle at the rate of "94.49" dollars a barrel . And it attributed the organization in its relative recovery in prices to lower US oil inventory levels and the continuing discussions about restoring the balance to the world oil market.
Monthly report went on to say that prices came under pressure, however, due to the high value of the US dollar and profit-taking and other factors.
Eating OPEC report, "the global economy, noting that the global economic growth outlook remains unchanged at the limits of" 9.2 "percent this year and 1.3 percent for 2017, while the OECD forecasts ranging from" 6.1 "percent and" 7 0.1 "per cent for the years 2016 and 2017, respectively, despite the fact that growth in the euro zone was revised up to" 6.1 "percent for this year and" 3.1 "percent for next year.
And on the outlook for economic growth in China, OPEC's report said it would be in the range of "7.6" percent in 2016 and the ratio of "2.6" percent in 2017 while the rate of growth left in India unchanged at "5.7" in percent this year, and "2.7" percent for next year.
With regard to Russia the organization in its periodic report predicted a stronger economic recovery by "8.0" in 2017 after a contraction of "6.0" percent this year, while the proportion is expected to reach Brazil's economic growth to "4.0" percent in 2017.
As global demand for oil report said he expects to rise by "23.1" million barrels per day in 2016 to reach the level of "40.94" million barrels per day, while global demand for oil will increase by 15.1 million barrels per day in 2017 to reach to 55.95 million bpd.
On the oil supply from non-OPEC countries in 2016 it indicated the organization at the conclusion of its report that these supplies amounted to "20.56" million barrels per day as OPEC supply of crude rose to 64.33 million barrels a day.