Opec lifts 2013 oil demand forecast
Vienna, February 12, 2013
World oil demand will grow faster than previously thought in 2013, producer group Opec said on Tuesday, citing signs of a recovery in the world economy.
Consumption of oil will expand by 840,000 (bpd) barrels per day this year, the Organization of the Petroleum Exporting Countries said in its monthly report, 80,000 bpd more than previously expected.
According to secondary sources cited by the report, Opec trimmed its output further in January by about 21,000 bpd to 30.32 million bpd, closer to its official target of 30 million bpd.
Top Opec exporter Saudi Arabia told Opec it pumped 9.05 million bpd in January, steady from 9.025 million bpd in December, confirming figures given last week by an industry source. - Reuters
More Energy, Oil & Gas Stories
- Pakistan, Iran to speed up gas pipeline project
- Opec cuts output closer to 2014 demand
- Oil industry struggling to attract women, says survey
- Rolls Royce wins Abu Dhabi offshore deal
- Alternative energy strategies probed
- GCC firms consider Occidental Mena stake bid
- Experts discuss Mena energy markets outlook
- Saudi Nov output steady, pumps 9.745m bpd
- Libya lost $7bn to oil strikes, says minister
- Iran to start gas exports to Iraq by July 2014