Demand for oil in Middle East steadily increased in 2017: OPEC report
The demand for oil in the Middle East steadily increased in 2017.
That’s according to the Organisation of the Petroleum Exporting Countries (OPEC), who have released their monthly oil market report for February.
The report predicts that the global demand for oil will grow faster than expected this year because of a healthy world economy.
They say demand will rise by close to 1.6 million barrels per day this year, an increase of 60,000 barrels from the previous forecast.
OPEC members, including the UAE, agreed to extend a deal to cut back production until the end of 2018 at a meeting in Vienna late last year.