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OPEC sees higher 2018 oil supply from rivals, stronger oil demand

Reuters  |  LONDON 

By Ahmad GhaddarLONDON (Reuters) - OPEC on Thursday revised its forecast for supply growth from its rivals for 2018 by nearly three times more than its revised projection of growth in global oil demand. It said growth in non-OPEC oil supply was forecast to rise by a further 80,000 barrels per day this year to 1.71 million bpd, driven largely by higher-than-anticipated growth in the first quarter in the United States and the former Soviet Union.At the same time, the Organization of the Petroleum Exporting Countries increased its forecast for global oil demand growth for this year by 30,000 bpd ...

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First Published: Thu, April 12 2018. 16:42 IST