OPEC slightly revises up world oil demand in 2007
www.chinaview.cn 2006-11-16 12:40:09

    VIENNA, Nov. 15 (Xinhua) -- The world crude oil demand is projected to rise by 1.6 percent, or 1.3 million barrels per day (bpd) in 2007, a 0.1 percent increase from the previous estimate in October, said the Organization of Petroleum Exporting Countries (OPEC) on Wednesday.

    The world oil demand in 2006 is expected to average 84.3 million bpd, an increase of 1.2 percent, or 1.0 million bpd as compared with the previous year, said OPEC in its latest monthly world oil market report.

    OPEC's average crude oil production reached 29.4 million bpd in October, and the estimated demand for OPEC crude oil in 2006 was expected to average 28.8 million bpd, said the report.

    OPEC's rotating President Edmund Daukoru, who is also Nigeria's Oil Minister, said on Wednesday that he had felt the "atmosphere" for further output cut, as many OPEC member countries believed that the current oil prices were still low.

    Market analysts believed that following its decision on Oct. 20 to slash oil output by 1.2 million bpd from Nov. 1, OPEC would discuss further output cut at the ministerial conference scheduled for December.

Editor: Yao Runping
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