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Commodities Briefing - Categorized | Market Moves, Oil more

Expect no growth in oil demand in 2012, OPEC says

Posted on 18 October 2011

The Organisation of Petroleum Exporting Countries (OPEC) has cut its estimate for world oil demand for this year, saying it expects no growth in oil demand for next year due to uncertainty in the global economy.
In its just-released Oil Market Report (OMR), the 12-member group, which controls a third of world’s oil, said uncertainty in the world economy was taking toll on oil demand, especially in the Organisation of Economic Cooperation and Development (OECD) region……………………………………….Full Article: Source


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