The organization of countries-exporters of oil (OPEC) raised the forecast of world oil demand in 2017 to the end of the decade. In the cartel expect the lower prices stimulate consumption in the face of slowing economic growth. About it it is told in published on Tuesday, November 8, the annual forecast OPEC World Oil Outlook (WOO).
Oil demand in 2017 will increase to 95.3 million barrels per day, which is 300 thousand barrels more than the previous forecast WOO, published in December last year.
In 2020 the consumption will reach 98,3 million barrels daily, which is 900 million more than the previous forecast. While OPEC expects demand for its oil to 33.7 million barrels per day in 2019 — one million barrels above the level of 2016.
Oil prices continued to rise on Tuesday after a strong increase the previous day. At 11:35 GMT futures on North sea Brent on the ICE futures exchange has increased by 0.48 per cent compared with the close of the previous session, to 46,37 USD per barrel. The cost of the us WTI crude oil $ 45.02 USD per barrel (plus 0.29%).
On 7 November the price of oil rose after falling the previous week.
On the same day, former Deputy economy Minister Mikhail Dmitriyev said Monday that as a result of a possible drop in world oil prices to 25 dollars Russia are waiting for large-scale socio-economic shocks.
On 2 November the price of Brent crude oil fell below $ 47 per barrel for the first time from 28 September 2016.