Investing.com - OPEC lifted its forecast for global demand for oil in 2016.
In its August monthly report, OPEC said it now sees average oil demand growth at 1.2 mb/d.
That forecast was 30,000 barrels higher than its previous estimate.
The organization left its projection for 2017 unchanged at 1.15 mb/d.
“The bulk of the growth in 2017 will originate from the non-OECD with 1.05 mb/d,” the report said.