Low oil prices to hit non-OPEC output

GMT 10:43 2015 Friday ,11 September

Arab Today, arab today Low oil prices to hit non-OPEC output

Low crude oil prices
Paris - AFP

Low crude oil prices will lead to a pick up in demand and next year may cause the biggest drop in non-OPEC output in nearly a quarter of a century, the IEA said Friday.

With global oil prices now under $50 per barrel, the International Energy Agency said it sees demand rising from 94.4 million barrels per day this year to 95.8 next year, while non-OPEC output may fall by nearly half a million barrels per day.

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