OPEC Outlook: Demand For OPEC Oil By 2010 Below 2005 Level

The Organization of Petroleum Exporting Countries Tuesday said it expected demand for its members’ crudes within three years will be almost 1 million barrels a day below 2005 volumes, largely because of growth in natural gas liquids production from non-OPEC producers.

In its long-term outlook through 2030, OPEC said there were dangers to estimating demand for
conventional crude from alternative fuels, adding that, in the short term, flows of non-conventional crude from rival producers would offset demand growth.

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