Oil: OPEC maintains its forecast 2011, steady growth in 2012
VIENNA - The Organization of Petroleum Exporting Countries (OPEC) maintained almost unchanged its forecast of 2011 demand for crude and expects stable growth in 2012 due to uncertainties about the strength of economic recovery, it announces Tuesday in Vienna.
- In its monthly report, OPEC estimates that demand for crude in 2011 is forecast at 88.18 million barrels/day (bpd), an increase of 1.36 million bpd compared to 2010.
This figure should rise to 89.50 million bpd in 2012, said the organization whose members provide about 35% of global gross and have more than three quarters of the reserves.
Ennaharonline/ M. O.