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

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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.