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OPEC raises oil demand hopes for members but slashes US and Russian supply forecasts

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OPEC raises oil demand hopes for members but slashes US and Russian supply forecasts

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OPEC has upped its forecast for oil demand in 2015.

The Organisation of the Petroleum Exporting Countries says it expects an increase in sales of 430,000 thousand barrels a day.

It figures that it will sell 29.1 million barrels of oil a day for the coming year.

On the other hand OPEC lowered its forecast for non-members it predicts falls in oil production in the United States likewise in Russia.

OPEC anticipates output to drop in Middle Eastern producers that are non-OPEC members.