February 19, 2018 / 11:50 AM / 10 months ago

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

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

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.

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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