OPEC expects a gradual rise in oil prices from next month

Brother - Baghdad - Of Petroleum Exporting Countries OPEC forecast, Tuesday, gradually rising oil prices in the month, despite the negative impact of the key factors in the oil market.

The organization said in its monthly report the league, that crude prices (Brent) rose in the month by 33 cents compared to last month for up to 54 t of $ 48 a barrel.

According to the report record crude (West Texas) also rose in the month to reach between 47-48 dollars per barrel, an increase of about two dollars per barrel.

The report predicted global economic growth remain unchanged at 3.1% in the current year and the proportion of 3.4%, in 2016 compared Pencpti 2% and 2.1%, which Toukathma for Economic Cooperation and Development (OECD) for the same period.

He noted that emerging economies face more challenges than expected rate of economic development in each of Brazil and Russia fell by 0.2 percent in 2015 and 2016 at a time when expectations of development of both China and India have not changed.

And expected (OPEC), the global demand for oil, which currently stands at 68.92 million barrels per day in the current year by 1.5 million barrels per day, while growth in 2016 will rise by about 1.25 million barrels per day to reach 94.1 million barrels per day.

On the global oil supply from non-OPEC, the organization pointed out that the supply from outside the Organization during the current year increased by 0.72 barrels per day compared to the previous report, which is likely to rise by 0.16 million barrels per day.

For the production of OPEC countries, the report predicted that the rise in the current year to reach 31.75 million barrels per day.

With regard to the balance of supply and demand, the organization estimated that the demand from OECD countries 29.6 million barrels a day this year, an increase of 0.3% from what mentioned in the previous report.

The organization suggested demand for oil reach 30.8 million barrels per day over the next year, up nearly 0.5 million barrels per day, it said what the previous report and about 1.2 million barrels from what it is in this year.