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OPEC sticks to 2013 oil demand forecast

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(Globalpost/GlobalPost)

OPEC kept Tuesday its 2013 forecast for global oil demand unchanged, with US demand expected to be flat after two years of falling and Japanese consumption roughly at the same level as well.

The Organization of Petroleum Exporting Countries, accounting for 35 percent of global supply, projected in its March monthly report average 2013 demand of 89.7 million barrels per day, up 0.8 million from 2012.

Risks remain, however, including eurozone instability, the impact of a full budget cut in the United States and any "sudden" decision by the Japanese government to reopen any nuclear plants shut down after the Fukushima disaster two years ago, the cartel said.

stu/wai

http://www.globalpost.com/dispatch/news/afp/130312/opec-sticks-2013-oil-demand-forecast