OAPEC reports increase of international oil demand in 2001

Originally published February 11, 2002

The Organization of Arab Petroleum Exporting Countries (OAPEC) announced Sunday that the average international demand on oil reached 75.9 million barrels per day in 2001 compared to 75.7 million bpd the year before, an increase of about 200,000 bpd.

Kuwaiti news agency reports that oil demand in the fourth quarter of 2001 was estimated to average 76.6 million barrels per day, compared to 75.9 bpd in the third quarter of that year, an increase of 700,000 bpd.

The international oil demand in 2001 had fallen to a minimum of 75,000 during the second quarter but climbed to a maximum of 1.6 million bpd in the fourth quarter of the same year.