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VIENNA - OPEC left its 2012 world oil demand outlook almost unchanged on Tuesday, citing price volatility and pressure on the global economy.
The Organization of Petroleum Exporting Countries put 2012 demand at 88.69 million barrels per day (mbpd), up from its previous estimate of 88.67 mbpd.
This year has "witnessed various economic developments worldwide that have placed much uncertainty on oil demand. This has been related to two main factors -- the turbulence in the world economy and the volatility in oil prices."
"The indicators do not point clearly towards a stabilising of the world economy. The economies of the US, Europe and, to a certain degree China are still slowing down mildly," OPEC said in its latest monthly report.
OPEC, which accounts for about a third of global oil supply, still expects 2012 demand as a whole to be up 900,000 bpd from last year's 87.79 mbpd.
It said that in the United States, the world's biggest energy market, demand had slumped 6.2 percent in March as the economy slowed, the biggest such decline since May 2009.
OPEC ministers meet Thursday in Vienna to review oil output levels against the backdrop of a weak global economy, fragile demand, oversupply and continued tensions over Iran's contested nuclear programme.
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