Demand for OPEC Crude Will Rise This Year

 OPEC predicted on Monday that demand for its crude oil will rise this year amid a production slowdown in the U.S., vindicating its strategy to let oil prices slip to hit rival producers and revive demand.
In November, the Organization of the Petroleum Exporting Countries, led by its top producer Saudi Arabia, decided to keep its production ceiling as it made keeping its market share a priority over defending prices.
In its monthly oil-market report, the group said that demand for its crude will rise by about 110,000 barrels a day to 29.2 million barrels a day in 2015, following an upward adjustment of 400,000 barrels a day.
OPEC said a decelerating U.S. production boom was reviving appetite for its crude.