oil demand forecast 2016

 

 

 

 

Demand forecast to strengthen in H2 2016 underpinned by Asian oil net importers Industry retains laser focus on cost reduction (capex cuts, headcount reduced, project. deferrals and cancellations). European Markets End higher in Wake of Recent Market Turmoil. 2018-02-07 21:43:00 UTC00. Oil Edges up on Reported U.S. Crude Inventories Drawdown. LONDON (Reuters) - OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year. Thus, world oil demand in 2016, according to the forecast, OPEC will be above the level of 2015 by 1.26 million barrels a day and will be about 94,17 million barrels per day. The Organization of the Petroleum Exporting Countries (OPEC) has revised its forecast for oil demand in 2016, predicting an increase in demand of 40,000 barrels per day, to reach 94.21 million barrels a day, the Monthly Oil Market Report, released on Wednesday, shows. Oil Price Forecast 2018 - 2050. How Oil Prices Could Rise Above 200 a Barrel.The nuclear peace treaty allowed Saudi Arabias biggest rival to sell oil in 2016.The OECD admits that high oil prices slow economic growth and lower demand for oil itself. London The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday announced cut in its forecast for global oil demand growth in 2016. It also warned of further reductions, citing concern about Latin America and China and a larger supply surplus this year. In 2016, world oil demand is expected to grow by 1.25 mb/d, representing a marginal lower adjustment of 10 tb/d from the previous forecast, to average 94.21 mb/d. Non-OECD countries will continue to contribute the bulk of oil demand growth this year. Rapeseed area is forecast to rise with production expected to rebound modestly following the decline observed in 2016/17.Strong soybean meal demand will spur higher crush volumes and increased soybean oil production.

Olive oil production is forecast to make a significant recovery from the 10:30 AM ET Thu, 11 Aug 2016. The International Energy Agency expects the world to consume less oil in 2017 than previously thought. The International Energy Agency (IEA), whose predictions are infamous among industry analysts for being low and late, recently increased its estimate for global oil demand to 95.9 million barrels per day in 2016, an increase of 1.

2 million barrels a day year-on-year. That increase in forecast was driven by Agency experts also increased its assessment of the global oil demand for 2016 in comparison to 2015, up to 1.6 mln barrels per day. In its December report, the IEA forecast the 2016 oil demand at 1.5 mln barrels year-on-year. The EIA forecast that oil demand for 2016 would grow by 10,000 barrels per day (bpd) to around 1.45 million bpd. Thus, overall crude production is anticipated to average around 8.7 million bpd. The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday announced cut in its forecast for global oil demand growth in 2016. It also warned of further reductions, citing concern about Latin America and China and a larger supply surplus this year. NEW YORK, July 12 (Reuters) - The U.S. Energy Information Administration cut its forecast for U.S. oil demand growth in 2016, and increased its demand growth forecast for 2017, according to a monthly outlook issued on Tuesday. Global oil demand growth for 2018 has been increased slightly to 1.4 mb/d, partly due to an optimistic GDP forecast from the IMF.Annual Statistical Supplement 2015. Medium-Term Oil Market Report 2016. 14 September 2016, 02:56.(30 OCTOBER 2017)DAILY MARKET BRIEF 2:Crude Oil Prices: World Bank renewed its bullish forecast for 2018. LONDON (Alliance News) OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions, Reuters reported, citing concern about Latin America and China, pointing to a larger supply surplus this year. Oil price forecasts depend on the interaction between supply and demand for oil on international markets. Among the most important supply-side factors are the US shale oil production, US crude oil stocks and OPEC oil supply.Units. 2015. 2016. Meanwhile, world demand growth is forecast to ease closer to a long-term trend of 1.21 million bpd in 2016 from a very high 1.82 million bpd this year. The impact of oils steep price plunge on end users is unlikely to be repeated and economic conditions are forecast to remain problematic in countries OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year. To make the case for rising demand in India and China, the prospectus cites the Canadian Association of Petroleum Producers (CAPP) 2016 Crude Oil Forecast, Markets and Transportation5, which in turn cites. In its Monthly Oil Market Report for December, released Monday morning, the Organization of the Petroleum Exporting Countries (OPEC) noted that the cartels price for its reference basket fell 17 in December and that for 2015 the value of a reference barrel fell nearly 50. LONDON (Reuters) - OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year. Long term global oil demand growth is forecast to decelerate steadily, falling from an annual average of around 1.3 mb/d during the period 20162020 to only 0.3 mb/d every year between 2035 and 2040. f2016 oil price and macro forecast revision.On the demand side, we expect the low oil price environment to encourage incremental demand, particularly in Asia. For further details, please see our next Oil Gas Weekly. Home. :: ShareCast News. :: IEA cuts 2016 oil demand forecast.Global demand for oil would expand by 1.3m barrels a day in 2016, 100,000 barrels per day less than previously estimated, the International Energy Agency said in its latest Oil Market Report. For 2016, a gain of 1.3 mb/d is expected a downgrade of 0.1 mb/d on our previous forecast due to a more pronounced 3Q16 slowdown.UK ILO unemployment rate steadied in the May-July 2016 period. IEA downgraded global oil demand. The Organization of the Petroleum Exporting Countries on Wednesday announced cut in its forecast for global oil demand growth in 2016. It also warned of further reductions, citing concern about Latin America and China and a larger supply surplus this year. According to the latest monthly forecast report of the IEA, the growth in oil demand for 2016 is expected to come at around 1.30 million barrels per day (mbpd). This is down from a preceding forecast of 1.40 mbpd. OPEC said in the Monthly Oil Market Report released on Wednesday that world oil demand growth in 2016 is expected to average 1.22In 2017, demand for OPEC crude is forecast at 33.0 mln barrels daily, in line with the previous report and 1.2 mln barrels a day higher than in 2016, the OPEC reported. Naphtha demand is forecast at 439.3 million barrels in 2017, up 2.9 from 426.9 million barrels in 2016. "Demand of fuel oil and LPG is also forecast to slow this year due to restructuring of [the] shipping industry and fewer LPG-powered vehicles," the KEEI report said. OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year. Oil demand prospects in 2016 and 2017 remain robust, with growth forecast at around 1.2 mb/d for both years. Asia will again be the leading demand growth region, capturing more than 50 of the share in global growth. However, the forecast of this indicator by 2017, experts of the OPEC in October has not changed and still expect oil demand of the organization at the level of 32.6 million barrels per day, 800 thousand barrels higher than in 2016.

OPEC raised its forecast for global oil demand next year and through the end of the decade, anticipating that cheaper crude will spurThe group assumes crude will average 40 a barrel in 2016, and it raised its projected price by 5 a barrel in each of the following years through 2020. London: Opec on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year. The OMRs call on OPEC crude and stock change for 2016 was unchanged from the November issue at 31.3 mb/d a substantial rise of 1.6 mb/d on this year.The December OMR features a focus on how heady growth in vehicle sales is supporting strong growth in Chinese gasoline demand. Exhibit 18: IEAs 2016 China Gasoline Demand Forecast Trimmed Dramatically Projected 2016 gasoline demand growth, kbd.Exhibit 38: China Oil Products Demand Forecast to 2020, kbd. 61. Key Demand Model Assumptions. Naphtha demand is forecast at 439.3 million barrels in 2017, up 2.9 from 426.9 million barrels in 2016. "Demand of fuel oil and LPG is also forecast to slow this year due to restructuring of [the] shipping industry and fewer LPG-powered vehicles," the KEEI report said. Demand for oil will likely increase for this year but dip in 2017, according to the latest "Short-Term Energy Outlook" released on Tuesday by the United States Energy Information Administration. The EIA forecast that oil demand for 2016 would grow by 10,000 barrels per day to around 1.45 million bpd. South Koreas oil products demand is forecast to climb 2 on year to 858.6 million barrels in 2016, the countrys state-run think tank said Monday.The countrys oil demand in 2016 will be driven by jet fuel and auto fuels, with fuel oil consumption sliding, the think tank said. IEA revises up 2016 oil demand forecast.The International Energy Agency (IEA) today announced that it had revised up its forecast of global oil demand growth in 2016 to 1.6m barrels a day (b/d) and forecast a further 1.3m b/d increase in demand in 2017. The EIA raised its forecast for 2016 demand growth by 270K bpd and now sees a 1.43mbpd year-over-year increase.Global oil inventory builds are expected to continue through the first half of 2017, but at a generally decreasing rate. Outside of US production, they dont see much of a run-off in TASS/. The Organization of the Petroleum Exporting Countries (OPEC) increased the forecast for global oil demand in 2016 by 10,000 barrels per day, according to the September report of the organization. The International Energy Agency kept its demand growth forecast for 2016 at 1.2 million bpd and expects consumption to increase at the same pace next year, having gradually slowed from a five-year peak of 1.8 million bpd in 2015.Oil Demand Could Peak in Just Five Years. OPEC on Wednesday cut its forecast for global oil demand growth in 2016 and warned of further reductions citing concern about Latin America and China, pointing to a larger supply surplus this year. The Organization of Petroleum Exporting Countries (OPEC) has lowered the forecast growth in global oil demand in 2016 by 50 thousand barrels per day by 1.2 million barrels per day, according to the monthly survey of the cartel. Total world oil demand growth for 2016 now stands at 1.2 million barrels per day, leading to total consumption of 94.2 million barrels per day, says OPEC Monthly oil Market Report (MOMR) for July 2016. The International Energy Agency raised its forecast for global oil demand growth to 1.3 percent annually over the next five years on economic expansion in China, cautioning that gains in prices threaten the recovery.

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