Demand for Opec crude in the first quarter of 2010 is expected to fall below the producer group's current output, the semi-official Mehr News Agency quoted a senior Iranian official as saying on Monday. "Demand in the last quarter of 2009 is about 29.3 million barrels per day (bpd) it is expected to fall to 28.1 million bpd in the first quarter of next year," said Mohammad Ali Khatibi, Iran's representative to the Organisation of the Petroleum Exporting Countries.
"Global demand for Opec oil (in the first quarter of 2010) will be lower than current output," Khatibi said, without elaborating. Khatibi also said output by countries outside the Opec was expected to increase by 200,000 bpd during the same period. On Saturday, Khatibi was quoted as saying that there was no need to change Opec's crude output ceiling because the oil market was in balance.