Opec sees lacklustre oil demand growth over next five years | The National

Opec sees lacklustre oil demand growth over next five years | The National:

"Opec said in its annual outlook that it expects lacklustre economic growth and other factors to keep a lid on demand growth for its members’ oil over the next five years.

In its annual outlook, the producers group said it expects world oil demand will grow from 91.3 million barrels per day last year to 97.4 million bpd in 2020, which is 500,000 bpd higher than in its previous outlook.

But that rate of growth trails behind expected economic growth, which itself is expected to be “below potential” in the medium term, with the result that Opec foresees little actual growth in demand for its members’ crude through 2020."



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