UPDATE 1-EIA cuts 2014 global oil demand outlook, raises non-OPEC supply

NEW YORK Tue Oct 8, 2013 3:47pm BST

NEW YORK Oct 8 (Reuters) - The U.S. Energy Information Administration said global oil markets would be better supplied in 2014 than previously forecast, according to its revised outlook on Tuesday.

In its October Short Term Energy Outlook, the EIA projected oil demand growth next year would be 1.17 million barrels per day, a reduction of 20,000 bpd from the September forecast.

Growth in supply of non-OPEC oil was revised up by 50,000 bpd to 1.5 million bpd in 2014.

For 2013, the EIA revised its demand growth forecast down by 140,000 bpd to 970,000 bpd. Non-OPEC oil supply growth for 2013 was revised down by 60,000 bpd to 1.51 million bpd. (Reporting by Matthew Robinson, Selam Gebrekidan; Editing by Marguerita Choy)

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