OPEC Upgraded 2019 Global Oil Supply Forecast For Non-Cartel States To 2.24Mln Bpd -Report

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OPEC Upgraded 2019 Global Oil Supply Forecast for Non-Cartel States to 2.24Mln Bpd -Report

OPEC has upgraded its projections for the global oil supply for the non-cartel states in 2019 by 0.06 million barrels per day up to 2.24 million barrels per day, according to the its fresh report

MOSCOW (UrduPoint News / Sputnik - 14th March, 2019) OPEC has upgraded its projections for the global oil supply for the non-cartel states in 2019 by 0.06 million barrels per day up to 2.24 million barrels per day, according to the its fresh report.

"Non-OPEC oil supply growth in 2019 was revised up by 0.06 mb/d to average 2.

24 mb/d, mainly due to a re-assessment of the production forecast for Canada, following the decision to increase production by 100 tb/d as of April 2019, as well as higher-than-expected growth in the Sudans," the report said.

"World oil demand growth in 2019 was unchanged at 1.24 mb/d with total world oil demand marginally below the 100 mb/d mark. Total demand is projected to exceed 100 mb/d during 2H19," the report added.

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