Markets

OPEC raises 2015 oil demand growth forecast by 30,000 bpd to 1.53mln bpd

Latest OPEC monthly report now out

  • 2016 growth forecast unchanged at 1.25mln bpd
  • says OPEC crude output rose by 230,000 bpd to 31.7mln in Nov

That's it chaps. Keep pumping that oil out. Someone might need it in a few years. Perhaps

  • Saudi Arabia tells OPEC it produced 10.186mln bpd in Nov, down about 90k bpd from October
  • OPEC forecasts non-OPEC 2016 supply will contract by 380k bpd vs prev forecast of 130k
  • slightly raises 2016 forecast for its crude to 30.84mln bpd vs prev forecast of 30.82mln

Every little helps I guess

Brent $40.16 just off session lows as is WTI at $37.04

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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