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Wednesday, September 19, 2018

MARKET INFORMATION

World oil demand projected to increase in most areas - IEA

According to the latest oil market report from IEA, world oil demand is still projected to increase by 1.66 mbd this year, despite a downward revision reflecting economic slowdown. North America is projected to increase consumption by 0.41 mbd, Europe by 0.2 mbd, and Asia by 0.75 mbd.  The only marginal decline is expected in the Former Soviet Union.  IEA has projected world oil demand to reach 79.3 mbd in 4Q 2001, an all time high.  For further details see: http://www.intertanko.com/pubupload/oilsd.xls

Total non-OPEC supply is projected to increase by 0.93 mbd, and the biggest increases are expected in the FSU (0.39 mbd) and N America (0.41 mbd). A marginal decline is expected in Europe.