opec expects higher demand for its oil
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

In 2018

OPEC expects higher demand for its oil

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today OPEC expects higher demand for its oil

OPEC
Jeddah - Al Maghrib Today

 

The Organization of the Petroleum Exporting Countries predicted higher demand for its oil in 2018 on Wednesday and said its production-cutting deal with rival producers was getting rid of a glut, pointing to a tighter market that could move into a deficit next year.

In a monthly report, OPEC said the world would need 33.06 million barrels per day (bpd) of its crude next year, up 230,000 bpd from its previous forecast. “With the market moving into the winter season, distillate fuel supplies are notably tight, representing a change from the excess supplies seen in the last two years,” OPEC said.

“OPEC and key non-OPEC oil producers continue to successfully drain the oil market of excess barrels.” The report illustrates growing confidence among OPEC officials that its supply cut is working. In a deal aimed at clearing the glut, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers are cutting half as much, until March 2018.

According to Reuters, the 14-country producer group said its oil output in September, as assessed by secondary sources, came in below the 2018 demand forecast, even though production climbed by about 89,000 bpd to 32.75 million bpd.

In a further sign that the supply excess is easing, OPEC said inventories in developed economies declined by 24.7 million barrels in August to 2.996 billion barrels, 171 million barrels above the five-year average. OPEC and its allies want to bring stocks down to the five-year average and are discussing extending their supply restraint.

almaghribtoday
almaghribtoday

GMT 12:55 2018 Sunday ,21 January

Duterte bans Philippine nationals

GMT 13:13 2018 Saturday ,20 January

UK retail sales slide in December

GMT 10:06 2018 Friday ,19 January

To develop oil fields retaken from Kurds

GMT 13:33 2018 Thursday ,18 January

Sudan holds communist leader

GMT 12:51 2018 Wednesday ,17 January

Sudan police beat protesters at demo

GMT 09:24 2018 Tuesday ,16 January

UK construction firm Carillion collapses

GMT 12:06 2018 Monday ,15 January

EU more dependent on Russian gas

GMT 11:31 2018 Sunday ,14 January

Glimmers of hope in Iran economy
Almaghrib Today, almaghrib today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

opec expects higher demand for its oil opec expects higher demand for its oil

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

opec expects higher demand for its oil opec expects higher demand for its oil

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 14:10 2017 Wednesday ,02 August

Italy impounds German NGO migrant rescue boat: police

GMT 02:15 2015 Monday ,30 March

Yemeni president fires 2 provincial governors

GMT 09:28 2018 Friday ,05 January

Music sales soar in US, as streaming takes

GMT 10:16 2013 Sunday ,03 March

FIFA to make Qatar decision

GMT 05:05 2012 Thursday ,10 May

Sceptic Algerians go to polls

GMT 10:01 2017 Sunday ,12 November

Hollywood takes break from scandal

GMT 12:17 2017 Wednesday ,08 November

Actress Helen Hunt slammed over Egypt forum

GMT 18:46 2016 Tuesday ,23 February

Egypt, Greece to enhance economic, trade relations

GMT 14:06 2017 Monday ,27 March

HH the Emir Receives Message from Emir of Kuwait

GMT 23:07 2012 Thursday ,19 April

The Horror of Love

GMT 08:09 2012 Wednesday ,27 June

4 militants killed in US drone attack in Pakistan

GMT 08:15 2017 Saturday ,18 February

OIC Condemns Terrorist Attack in Pakistan

GMT 19:02 2012 Thursday ,02 August

Aaron Sorkin defends \'Newsroom\'

GMT 01:17 2015 Monday ,07 September

Mohammed Balooshi continues impressive run

GMT 09:40 2015 Wednesday ,18 February

Flu shot protects against new H7N9 strain
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday