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OAPEC Expects Rise in Global Oil Demand in 2001
The Organization of Arab Petroleum Exporting Countries (OAPEC) has predicted that the world oil demand would rise by 1.9 million barrels per day (bpd) on average to some 77.5 million bpd this year.
The Kuwait-based OAPEC said in its April report that the world consumed 77.4 million bpd in the first quarter this year, an increase of 1.9 million bpd compared with the same period last year.
According to its forecast, the global demand in oil in the second quarter will rise to nearly 75.7 million bpd from 73.8 million bpd in the corresponding period in 2000.
OAPEC said that the world demand in oil could reach some 76.9 million bpd in the third quarter, or 1.1 million bpd more than that in the same period last year.
In the last quarter of 2001, it said, the world is likely to consume about 79.5 million bpd, 2.2 million bpd more than that in the fourth quarter in 2000.
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