RE:OPEC predicts sharp rise in demand for its crude
Not the way I read it.
Non-opec oil in 2015 is projected to grow by 0.85 mbbpd, which is 0.42 mbpd from the original number of 1.27 mbpd.
In 2015, demand is expected to increase by 1.17 mbpd.
Demand for OPEC crude is projected to be 29.2 mbpd, an adjustment of 0.4 mbpd increase.
The repot indicates the USA will supply an average of 13.6 mbpd in 2015, which is essentially consistent across all 4q or an increase of 0.8 mbpd (I find that hard to believe, as I would expect some downdraft in the latter quarters see table 10.6 in the report)
If you look at table 10.3, the only significant demand increase is from developing countries with a delta from last year of 0.8 mbpd. In fact, the report suggests world demand will fall 0.4 mbpd.
Not really all that of a bullish report.