MOSCOW (Sputnik) – According to OPEC, 2015 predictions have shifted upwards by 90,000 barrels a day, bringing the oil demand to 92.7 million barrels daily. In 2016, the prognosis has been increased by 100,000 barrels a day to 94.04 million barrels daily.
Last month’s report also predicted an increase in oil demand compared to the previous report.
Current global oil prices have almost halved compared to summer 2014, dropping from $100 to $45 per barrel for Brent crude in the second half of 2014, primarily due to oversupply.
In November 2014, OPEC elected to maintain oil production levels, resulting in a further price decline.
Last month, OPEC stated it would not cut current production levels.
