You are here: Home » Economy & Policy » News
Business Standard

Demand for Opec crude in 2018 raised by 230,000 bpd

OPEC said the world would need 33.06 million barrels per day (bpd) of its crude next year

Reuters  |  London 

OPEC forecast higher demand for its oil in 2018 on Wednesday and said its production-cutting deal with rival producers was getting rid of a glut, pointing to a tighter market that could move into a deficit next year. In a monthly report, the Organization of the Petroleum Exporting Countries said the market could find support in winter from low distillate fuel stocks and forecasts of colder weather, which would boost distillates demand for heating. OPEC said the world would need 33.06 million barrels per day (bpd) of its crude next year, up 230,000 bpd from its previous forecast. ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, October 11 2017. 21:33 IST
RECOMMENDED FOR YOU