Demand for oil can increase this year

The global demand for oil in 2018 should grow 1.6 million barrels per day thanks to an "encouraging environment", said on Monday the Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Trikindo.

He said that the OECD oil commercial stocks rose in January and were about 74 million barrels above the five-year average. He also highlighted that the adherence of the member countries and non-OPEC members to the Oil supply reduction pact was 133% in January and 107% throughout the year 2017.

A technical meeting between OPEC and allied members is scheduled to take place in June, concluded the Secretary-General, who spoke during conference in Abuja, Nigeria. Source.
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