EIA raises 2015 global oil demand forecast

FXStreet (Mumbai) – The US Energy Information Administration (EIA), in its latest round of projections, raised the 2015 global oil demand forecast by 170K barrels per day (bpd) to 1.34 million bpd. The demand forecast for the next year is revised higher by 100K bpd to 1.14 million bpd.

Output forecast for 2015 now stands at 9.25 million bpd compared to the previous forcast of 9.22 million. 2016 forecast was also revised higher to 8.86 million bpd from 8.82 million bpd.

WTI Oil average price is seen at USD 49.53/barrel compared to the previous forecast of 49.23/barrel. The 2016 WTI average and Brent average is held unchanged at USD 53.57/barrel and USD 58.57/barrel respectively.

Meanwhile, Iran oil chief said they are going to introduce more than 50 exploration and production projects in the near future.

The US Energy Information Administration (EIA), in its latest round of projections, raised the 2015 global oil demand forecast by 170K barrels per day (bpd) to 1.34 million bpd. The demand forecast for the next year is revised higher by 100K bpd to 1.14 million bpd.

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