OPEC adjusts its 2000 world demand forecast - Brief Article - Statistical Data Included

World Oil, Nov, 2000

Within two months of the original forecast, OPEC slashed its 2000 world demand forecast by 180,000 bopd, to 75.9 million bopd. OPEC'S secretariat revised the global demand estimate for 2001, to 77.33 million bopd, also a reduction of 180,000 from its previous forecast. However, the "OPEC balance of supply and demand"--the amount of world demand that OPEC can meet--will increase to 27.5 million bopd in 2001 from 27.0 million bopd in 2000.

Production from non-OPEC countries for 2000 was cut 200,000 bopd to 50.0 million and by 360,000 bopd in 2001 to 46.9 million.