February 19, 2018 / 11:50 AM / 7 months ago

Global oil demand in 2018 forecast to grow 1.6 million bpd – OPEC

LAGOS (Reuters) - Global oil demand for 2018 is estimated to grow 1.6 million barrels per day due to an “encouraging environment”, OPEC Secretary-General Mohammad Barkindo said on Monday.

FILE PHOTO - OPEC Secretary-General Mohammad Barkindo listens during a news conference in Vienna, Austria, November 7, 2017. REUTERS/Heinz-Peter Bader

He said commercial oil stocks for the OECD rose in January 2018 and were about 74 million barrels over the latest five year average.

Reporting by Paul Carsten; Writing by Chijioke Ohuocha. Editing by Jane Merriman

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