By Joe DeCapua
Demand for crude oil from the OPEC countries is expected to decline again next year, as independent producers, including the United States, increase their supplies.
Times are changing gradually for OPEC, the Organization of the petroleum exporting countries. Its own surveys show how the global marketplace is changing as oil production increases.
"They calculate the supply from non-OPEC producers and they calculate global demand and therefore they calculate what remains of the pie for OPEC. The problem is that rest of the cake decreases next year because supply from independent producers - particularly the United States, but not only - increasing more rapidly that the application. So, essentially the leaves less of the market of OPEC next year, "said Richard Swan, Editorial Director of the new world of oil at Platts, key information providers on energy, petrochemicals, metals and agriculture.
OPEC estimates the demand for its crude oil next year will be around 29.6 million barrels per day. Swan said that it's about 1 million barrels per day below current production.
"That is potentially problematic for them."It implies that, at the current rate of production, they are over-supplying the market, said.
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