Global Oil Demand Forecast The Organization of t
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Posted On: 11/27/2012 11:53:01 AM
Global Oil Demand Forecast
The Organization of the Petroleum Exporting Countries maintained its 2013 world oil demand growth forecast at 0.80 million barrels per day (mbd) and that of its world economic growth projection at 3.2 percent for 2013.
The OPEC held its world economic growth forecast for the year 2012 to 3.1 percent and that of 2013 at 3.2 percent. The cartel warned that the US expansion remains below potential at 2.2 percent in 2012 and 2.0 percent in 2013, while it predicts the growth in Japan to decelerate from 2.2 percent this year to 1.1 percent in 2013; and the Euro-zone to return to growth in the coming year at the magnitude of 0.1 percent following a contraction of 0.5 percent in 2012.
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