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المحرر موضوع: OPEC Boosts Demand Estimate  (زيارة 1666 مرات)

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OPEC Boosts Demand Estimate
« في: يوم 13-04-2011 , س 22:48:54 pm »
OPEC Boosts Demand Estimate

The Organization of Petroleum Exporting Countries raised its forecast for the amount of crude it will need to supply this year as demand withstands the impact of $120-a-barrel oil.
OPEC, responsible for 40 percent of global supplies, said its 12 members will need to provide an average of 29.9 million barrels a day this year to satisfy world demand, or 100,000 barrels a day more than estimated last month. Members have “accommodated most of the shortfall” in output from Libya, and oil’s rise this month to its highest price in 2 1/2 years is driven by fears of a shortage rather than any genuine lack of supply, OPEC said.
“Required OPEC crude is forecast to increase,” the organization’s Vienna-based secretariat said in its monthly market report Wednesday. Prices are “likely to have a slightly negative impact on transport fuel demand worldwide,” Bloomberg reported.
Brent crude futures climbed above $127 a barrel Tuesday in London for the first time in since August 2008, as forces loyal to Libyan leader Muammar Qaddafi launched strikes on the country’s oilfields. Oil slid 2.4 percent to about $121 Wednesday.
“The market is well-supplied,” the organization said. “Recent events alone do not justify the current high price levels. Instead, these represent a sharp increase in the risk premium, reflecting fears of a shortage.”
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