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UK petrol price fears as Opec raises oil forecast

Opec has upgraded its forecast for world oil demand to increase by 1.14m bpd  in 2014, up 50,000 bpd. In total, Opec expects the world will require 91.1m bpd of oil this year. , raising the prospect of higher petrol prices.A tighter global oil market will add to pressure on the Chancellor not to raise fuel duty on petrol and diesel in next week 's Budget. Opec expects North Sea oil production to be as low as 800,000 bpd this year, its lowest level since 1977.

Abstract details


Websites: http://www.friendslife.co.uk/auto-enrolment/

Journal title: Daily Telegraph

Keywords: Prices - petrol - Prices - Diesel

Countries: UK -

Organisation: OPEC

Subjects: Oil markets, Gasoline

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