Rus News Journal

The OPEC: Demand for oil can fall from - for crisis in the USA

the Organization of the countries - exporters of oil (OPEC) does not exclude reduction in demand for oil in second half 2007. In connection with crisis in the credit market of the USA and, as consequence, possible delay of rates of increase of the American economy. On it it is informed in the monthly report of the OPEC according to a condition and to prospects of development of the world market of the oil, extended today.
As has declared the OPEC, forecast decrease on growth of gross national product of the USA in 2007. To 1,9 % and increasing intensity in the world markets, provoked by problems in mortgage lending sphere, can lead to reduction of world consumption of oil up to the end 2007.
the OPEC has noticed that on this background of the price for oil for last four weeks have shown extreme volatilnost, having flied up to a record mark in 78,16 dollars/ barr. On July, 31st of this year and having fallen on 9 % - to 72 dollars/ barr. - by this time.
As to the price of an oil basket of the OPEC it as of August, 13th has raised on 75 cents and has officially made 68,27 dollars/ barr. Price growth of a basket has occurred for the first time for 12 days, and its indicator has reached the highest point for five days.
nevertheless the OPEC has not changed the forecast on world consumption of oil in 2007., on - former expecting that this indicator will grow in comparison with last year on 1,3 million barr./ day. (+1,5 %) - to 85,7 million barr./ day, mainly thanks to demand from Japanese power sector.
recent earthquake in Japan has caused closing of several power stations in the country, from - for what, according to experts of the OPEC, with the cold season beginning in the country demand for fuel will increase.
as it is informed in a press - release, oil recovery in 10 countries of the OPEC (without Angola and Iraq) in July of this year has made 26,57 million barr./ put that has exceeded a June indicator in 26,52 million barr./ day.