OPEC sees higher demand for its oil in 2016 as rival output slows

[September 14, 2015]  LONDON (Reuters) - OPEC on Monday predicted higher demand for its crude oil next year, sticking to its view that its strategy of letting prices fall will curb supply from the United States and other rival producers.

In a monthly report, the Organization of the Petroleum Exporting Countries said it expected demand for its crude next year to average 30.31 million barrels per day (bpd), up 190,000 bpd from last month.

This is despite weaker demand growth overall. OPEC trimmed its estimate of 2016 world oil demand growth by 50,000 bpd to 1.29 million bpd, citing a weaker outlook for Latin America and China.

(Reporting by Alex Lawler; Editing by David Holmes)

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