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Commodities Briefing - Categorized | Market Moves, Oil more

Saudi sees balanced oil market as OPEC meeting nears

Posted on 21 November 2011

The global oil market looks balanced, Saudi oil minister Ali al-Naimi indicated on Sunday, while the secretary general of the Organization of the Petroleum Exporting Countries said some producers need to cut back as Libyan output rebounds.
Speaking at the same conference in the Saudi capital with less than a month to go before OPEC meets, the head of the International Energy Agency (IEA) reiterated the major consumer group’s concern that stubbornly high oil prices and tight supplies could harm fragile global economic growth………………………………………..Full Article: Source


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