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

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.