OPEC+ sees encouraging dynamics of oil demand in 2018

OPEC+ sees encouraging dynamics of oil demand in 2018

Compliance of OPEC and non-OPEC countries with the oil production limiting agreements makes possible to slash commercial oil inventories and revise oil demand outlooks, Russian Energy Minister Alexander Novak said on Wednesday, TASS reports.

"The outlook demand has already been revised upward several times. The good figure of demand growth in 2018 is also encouraging," Novak said.

"OPEC is revising upward its outlook on the global economic growth for several months in a row, projected to be at the level of 3.7% this year," the Russian minister added.

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