Global Petroleum and Other Liquids
http://www.eia.gov/forecasts/steo/report/global_oil.cfm
Posted on 10/07/2014 11:41:59 AM PDT by thackney
The U.S. Energy Information Administration trimmed its forecast of world oil demand growth next year and made even deeper cuts in its outlook for OPEC production, the latest signs of a shift toward surplus supplies next year.
The EIA cut its 2014 global demand forecast to 91.47 million barrels a day, compared with 91.55 million bpd expected last month, according to a monthly report from the agency on Tuesday.
As a result, it now expects consumption to rise by 1.24 million bpd, down 100,000 bpd from the previous month's report but still higher than the 1 mln bpd increase estimated for 2014.
On the backdrop of weakening demand, the agency curbed its forecasts for OPEC oil and other liquid fuels production to 35.51 million barrels a day in 2015, down 350,000 bpd from last month's forecast.
For {OPEC} crude oil output alone the EIA cut its forecast by 300,000 bpd...
(Excerpt) Read more at rigzone.com ...
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