Global oil demand in 2018 forecast to grow 1.6 million bpd: OPEC

Reuters) - Global oil demand for 2018 is estimated to grow 1.6 million barrels per day due to an “encouraging environment”, OPEC Secretary-General Mohammad Barkindo said on Monday.

He said commercial oil stocks for the OECD rose in January 2018 and were about 74 million barrels over the latest five year average

Barkindo also stated that the organization registered 133 percent compliance with agreed output reduction targets in January across all participating OPEC and non-OPEC countries.

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