OPEC releases June 2016 monthly report
- Demand: World oil demand in 2016 is expected to grow by 1.44 mb/d in line with the previous report to average 95.12 mb/d. Projected oil demand growth for 2017 was also unchanged at 1.27 mb/d to average 96.38 mb/d.
- Supply: Non-OPEC oil supply is estimated to have averaged 57.30 mb/d in 2016, a contraction of 0.71 mb/d and unchanged from the previous report. In 2017, non-OPEC oil supply is projected to grow by 0.84 mb/d, following a downward revision of 0.11 mb/d to average 58.14 mb/d.