Tag: JCB Energy Markets

Kiran Stacey

Opec today raised its predicted level of oil demand for 2011 from 86.83m barrels per day to 86.95mbpd, or an increase of 120,000 barrels.

This would imply its current forecast is that demand growth will be 1.2mbpd higher than this year.

Interestingly, this comes out a few days after the IEA released its World Energy Outlook, showing its predictions have gone in the opposite direction. According to calculations by JCB Energy Markets, the IEA has “slashed 7.5mbpd out of its 2030 world oil demand forecast”.

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