Vienna (dpa -AFX) – The organization of oil -exporting countries (Opec) expects more growth in global demand for crude oil due to a stronger global economy. For the coming year, the Opec experts expect growth of demand by 1.4 million barrels daily (159 liters each), as can be seen from the monthly report of the oil cartel published on Tuesday in Vienna. Previously, the oil cartel had only expected an increase in global demand by 1.3 million barrels per day.
Advertising
Oil, gold, act all raw materials with levers (up to 20) via CFD (already from € 100)
Participate in price fluctuations in oil, gold and other raw materials with levers and small spreads! With a lever with the effect of 2,000 euros, you can act with only 100 euros.
Plus500: Please note the information5 To this advertising.
In addition, the Opec experts assume that the global oil supplies will shrink significantly next year, by almost 1.2 million barrels a day. However, this can only be expected if the Opec and its allies would not return to the old production volume.
The Oilverbund Opec+ from countries of the cartel and other important funding states, including Russia, is at the end of a change of course in funding policy with which they canceled a limitation of production. Most recently, the Opec+ had decided to extend the funding volume again from September. The group wants to increase production by an average of 547,000 barrels per day.
The higher amount of funding meets a market that, according to experts, is already heading for a surplus. Among other things, it is feared that the consequences of the US government’s aggressive customs policy could slow down the growth of the global economy and the demand for crude oil.
Finally, oil prices have stabilized again after they had fallen significantly for about a week since the end of July. On Tuesday, crude oil from the North Sea variety Brent was traded for $ 66.31 per barrel.