OPEC Still Sees Strengthening Oil Demand as It Plans Supply Hike.

OPEC has maintained its forecasts for increasing oil demand in the second half of the year, despite concerns about the strength of demand due to China's fragile economy and uncertainty over US monetary policy. The organization predicts a year-on-year increase of 2.3 million barrels a day in the second half, driven by economic growth in China and other emerging economies. OPEC's estimates are more optimistic than those of other forecasters in the industry. The group and its allies plan to gradually restore around 2 million barrels a day of halted production from October, but the decision could be postponed or canceled. [Extracted from the article]