Create a free Manufacturing.net account to continue

OPEC Cuts 2015 Demand Forecast For Its Oil as Shale Boom Persists

Name: OPEC Cuts 2015 Demand Forecast For Its Oil as Shale Boom Persists
Uploaded: 2014-12-10T15:56:16.000Z
Description: Global demand for oil from OPEC next year will be less than expected because of weaker growth in consumption and the U.S. shale boom, the group said on Wednesday, pointing to an increasing supply surplus in 2015. In a monthly report, OPEC forecast demand for the group's oil will drop to 28.92 million barrels per day (bpd) in 2015, down 280,000 bpd from its previous expectation.

Global demand for oil from OPEC next year will be less than expected because of weaker growth in consumption and the U.S. shale boom, the group said on Wednesday, pointing to an increasing supply surplus in 2015. In a monthly report, OPEC forecast demand for the group's oil will drop to 28.92 million barrels per day (bpd) in 2015, down 280,000 bpd from its previous expectation.

Dec 10, 2014