Economy

xchrom

(108,903 posts)

10. OPEC leaves 2012 oil demand steady, pumps more

Thu Apr 12, 2012, 07:24 AM

Apr 2012

http://uk.reuters.com/article/2012/04/12/uk-opec-oil-idUKBRE83B0JB20120412

(Reuters) - OPEC left its forecast for world oil demand growth in 2012 unchanged for a second month, saying there were signs that a slowdown in global economic activity is easing.

In a monthly report on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said world oil demand would rise by 860,000 barrels per day (bpd) in 2012, steady from the previous assessment.

The group, which pumps more than a third of the world's oil, had cut its growth forecast from an initial estimate 1.3 million bpd due to a weaker economic outlook. It said on Thursday the outlook was levelling off.

"Some encouraging signs have pointed at a stabilisation of the slowdown in economic activity," said the report, which is written by OPEC economists at the group's Vienna headquarters.

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