Introduction 1-OPEC expects oil supply surplus in 2016 with the production growth

London, Feb 10 (Reuters) - indicated that the Organization of Petroleum Exporting Countries (OPEC) that the excess oil supply on the world market will rise this year than previously expected at a time when Saudi Arabia is pumping and other members of the organization more oil to offset the drop in production in the States non-members affected by falling prices.

Signals OPEC in its monthly report that the oversupply will reach 720 thousand barrels per day in 2016, up from 530 thousand barrels per day in the previous report.

Perhaps pressing the continued surplus on prices, which had collapsed to their lowest level in 12 years when it recorded US $ 27.10 a barrel last month of more than $ 100 in mid-2014 and contributed to OPEC's strategy in defending its market share instead of supporting prices in exacerbating the decline.

But OPEC produced 32.33 million barrels a day in January, according to secondary sources, up 130 thousand barrels per day from December, offsetting the expected decline of other producers.

She informed Saudi Arabia, OPEC's largest oil exporter in the world that it is increasing its production to 10.23 million bpd from 10.14 million bpd in December. The secondary sources to a high production of Iran and Iraq.

OPEC supply has rise further due to the lifting of sanctions on Iran. Tehran seeks to increase the production of 500 thousand barrels per day, which will fill most of the shortfall from producers outside OPEC.

OPEC has kept its forecast for growth of global oil demand in 2016 little changed prophesying increased demand 1.25 million barrels per day compared with 1.54 million bpd in 2015.

The OPEC lowered its forecast for global economic growth in 2016 to 3.2 percent from 3.4 percent and said that falling oil prices hurt the economy unlike previous declines in prices, which has been supportive of global growth.

OPEC said "it appears that the overall negative impact of the sharp decline in oil prices since mid-2014 outweighed the benefits in the short term .. it seems that the 'infection' has moved to the many aspects of the global economy."

OPEC pointed to factors including the financial pressure on producers who rely on oil income and the lack of the ability of central banks to cut interest rates and the impact on various sectors from manufacturing to agriculture.

The report added to signs that falling prices hurt the high production cost of the non-OPEC countries. The companies to delay or cancel projects worth billions of dollars, which threatens some supplies in the future.

Now that OPEC expects supply from outside 700 thousand barrels per day in fall 2016, led by the United States. Last month, the organization predicted decline of 660 thousand barrels per day.