Latest News:  
Beijing   Sunny/Cloudy    33 / 24 ℃  City Forecast

English>>World

OPEC slightly raises global oil demand forecast (2)

(Xinhua)

10:43, August 10, 2012

The monthly report also said that, against the slight increase of global oil demand, the demand of global oil market from the OPEC was expected to fall on the contrary due to the continuous rise of supply from non-OPEC oil-producing countries.

The world will need an average of 29.87 million barrels of crude oil a day from OPEC's 12 members this year and 29.51 million barrels a day in 2013, which was about 80,000 and 90,000 barrels a day less than in the previous report in July.

According to a latest report by Reuters, output from OPEC countries reached 31.75 million barrels a day in April, the highest level since September, 2008. Thereafter, it followed the downward trend in the next three month and decline to a daily average of 31.18 million barrels in July, which however still exceeded its limit on output of 30 million barrel a day.

Insiders said that if the cartel's oil output fall back to the limit, it will have a profound impact on global oil market and oil prices.
More special coverages

More special coverages

【1】 【2】

Email|Print|Comments(Editor:陈丽丹、姚春)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Nanjing MAC tempers troops at sea

  2. Madagascar: Island of bizarre

  3. CPI hits 30-month low amid easing calls

  4. Essential elements

  5. Movie---The Locked Door

  6. Convenient, Artistic Cell Phone Photography

Most Popular

Opinions

  1. Editorial: Outbound investment risks
  2. Don’t be overwhelmed by domestic issues
  3. US pushes China to get serious about sanctions
  4. Obama diverts attention with Romney bashing
  5. Fearing others' rise offers path to eventual doom

What's happening in China

Dating websites lack supervision and management

  1. Death toll in E China reservoir breach rises to 10
  2. No child labor found in Samsung supplier: officials
  3. Smart, young rockers are electrifying
  4. Climate change will bring more heavy rains
  5. Naked guy is not our Party chief: local authority

China Features

  1. Boxing in China II: A Tale of Two Decades
  2. Fortune 500 Chinese companies not strong
  3. Why Hollywood favores China's actresses?
  4. Dongfeng Honda to recall 76,000 CR-Vs
  5. How to protect yourself during heavy rainstorms?

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai